In later life, when he chaired investigations into the UN oil-for-food programme or Arthur Andersen, an accountancy firm, he charged only a token $1 fee.
The best model for understanding the growth of CEO pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly.
Within companies, the right compensation design can provide incentives for executives to think beyond their own time at the company and on behalf of all stakeholders.