Dear friends, clients and colleagues,
I’ve got some exciting news to share – I’m selling my consulting practice!
Thus begins the third stage of my career, a very conscious next step in my evolution – and, as I see it, the evolution of executive compensation.
First, however, I want to assure you that all our Delves Group clients will continue to be extraordinarily well served. I and my colleagues remain “on the job” and fully committed to providing the same excellent, personalized executive compensation and corporate governance consulting for which we are known and respected.
Effective July 1, The Delves Group team will join Towers Watson. Not coincidentally, as you may recall, Towers played a central role in the first phase of my career, and is where I initially learned the business and spent almost 10 years before joining Sibson & Co., iQuantic and, in 2001, starting The Delves Group.
Being small, nimble and independent allowed us to do things we could not have done as part of a larger firm. We:
- Led the way as one of the first true independent voices and advisors to boards on executive pay.
- Stood firm as the only consultancy to support the expense for stock options, working closely with the FASB, writing books on the subject and testifying before the US Senate.
- Served some of the very first boards to seek independent advice on executive pay, helping to define the standards of practice for truly independent advisors.
- Took the lead in working with hundreds of board members to define core principles for governing executive pay, authoring countless articles and speeches on the topic, and (for me) earning a doctorate in the process.
Although it is far too early to claim victory, the world of corporate governance and executive pay has vastly improved in the last 10-12 years. We will take some small degree of credit for that. We will continue to work to help companies strive for excellence in governance and executive pay effectiveness.
At the same time, there are broader problems to help our clients solve:
- Our clients’ compensation issues are increasingly global.
- Companies need help unlocking and unleashing the potential of all of their employees.
- Health care and retirement challenges loom large for most corporations.
We “happy few” at The Delves Group will join a larger corps of talented consultants so that we can address those challenges and pursue a broader mission, while still providing exceptional advice to boards and management on executive pay.
Dr. Donald P. Delves