Total compensation for Chipotle Mexican Grill's co-chief executive officers for 2015 was cut in half after the company dealt with multiple food safety scares. Chipotle said executive compensation will be tied to the fast-casual chain's stock performance. But is that fair?
Steve Odland, president and CEO of the Committee for Economic Development, would contend that the pay reductions are fair, saying Tuesday on CNBC's "Power Lunch" that the stock price is the outcome of the business performance. Odland, also a former Office Depot CEO, applauded Chipotle's board for taking action in light of the numerous food safety issues.
Chipotle founder and co-CEO Steve Ells,was paid $13,8 million, 52 percent less than the previous year, according to a regulatory filing. Co-CEO Monty Moran's yearly pay fell 51 percent to $13.6 million.