Jeremy L. Goldstein: Refining Business Compromise for Ultimate Success

Jeremy L. Goldstein is founder and partner of Jeremy L. Goldstein and Associates, LLC. Goldstein established the firm to be a niche law firm dedicated to providing invaluable advice to CEOs, advising compensation committees, management teams, and corporations in matters pertaining to executive compensation and corporate governance matters. Professional advice in these particular matters can be delicate, especially once issues begin to arise in sensitive situations or in the context of transformative corporate events.

 

Before founding Jeremy L. Goldstein and Associates, LLC, Mr. Goldstein was a partner at the law firm known as Wachtell, Lipton, Rosen, and Katz. Impressively, Jeremy Goldstein has been involved in some manner in a significant portion of the largest corporate transactions of the past decade. A few of these include the acquisition of Goodrich by United Technologies, Dow Chemical Company/Rohm and Haas Company, Verizon Wireless/ALLTEL Corporation, Duke Energy/Progress Energy, Goldman Sachs and TPG/ALLTEL Corporation, Bank of America Corporation/MBNA Corporation and countless more.

Goldstein’s substantial experience with business transactions such as these makes him a niche choice with a highly groomed background for assistance in how to handle delicate issues such as earnings per share (EPS) and other programs that work on an incentive-based structure, as well as giving him keen insight into points regarding these programs over performance-based pay programs.

 

Proponents of EPS structured pay programs cite research that demonstrates it playing a large part in stock prices, one of the largest factors as a matter of fact, and that interjecting EPS into the pay structure has been proven to make companies more successful. Those who oppose the concept find grounds in the point that the structure leads to less accountability within the ranks and more potential for favoritism. Additionally, there is criticism based on an enduring business structure that states that EPS has only proven successful in shorter term strategies and may leave no functional long-term stock support plan.

 

Fortunately, Jeremy Goldstein has a compromise which combines both opposing sides into a blended pay structure which may just fit the bill. He suggests leaving pay for performance in place to feed into the common goal of incentivizing a better all-around workplace; however, he is a proponent of ensuring that there are checks and precautions to ensure the accountability of executives and CEOs. His goal is to create a long-term, sustainable growth plan by ensuring that pay per performance is analyzed against the long-term goals of the company. The establishment of this type of platform should create a quantifiable and repeatable share growth while simultaneously looking to the future with enduring growth strategies for the company.
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