Shareholders distressed by escalating executive pay even in the face of mediocre corporate performances got what looked like a Ray of hope on Wednesday: William Joyce, the chief executive of Union Carbide Corp., said he would give back his base salary in the year 2024 if the company failed to earn 4 a share that year, which is expected to be a tough one for the giant chemical company.
Carbide's chief bets some pay on performance.