Destroying shareholder value is not something that should be rewarded. Multiple mining company CEOs are starting to realize this fact. BHP Billiton's Andrew McKenzie is just the latest CEO to have compensation stripped from him. After taking less pay than the man whom he replaced, Mr. McKenzie will now only receive 65% of his bonus.
Despite outperforming many peers, BHP has woefully underperformed the overall market. It's tough to place all blame on these leaders given the trying times in the mining industry right now, but overspending has led to billions in writedowns across the sector. What other companies have taken action in 2013? Tune in below to find out.
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This article was originally published as Trimming Compensation for Mining CEOs Is Catching Onon Fool.com
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