keith kefgen

/Tag: keith kefgen

keith kefgen

Compensation for US CEOs in Lodging: Fair Pay Is a Real Issue

Keith Kefgen | February 18, 2019

(February 18, 2019) - AETHOS New York Managing Director Keith Kefgen, in his annual review of CEO compensation for a variety of hospitality disciplines, shares candid insights as a result of his latest look at CEOs of U.S. lodging companies: "What we have found over the twenty years of studying CEO pay, is that the many public boards did a poor job at linking CEO pay to company performance," observes Kefgen. "In fact, that was the goal of creating our pay-for-performance model." The AETHOS Pay-for-Performance Model analyzes key financial metrics such as market capitalization, stock appreciation, EBITDA growth, and to...

Gaming CEO Pay in a Year of Reckoning

Keith Kefgen | February 4, 2019

By Keith Kefgen The last eighteen months has been a reckoning for powerful men in the business world and gaming has been no exception. The #MeToo Movement struck down one of the most recognizable names in the gaming industry when Steve Wynn stepped down from the company he founded, Wynn Resorts. These issues have continued to shine a spotlight on CEO pay, severance and golden parachutes. Four other CEOs in gaming are out or on the way out soon. Caesars recently announced that Mark Fissora is stepping down at the end of the year. All that said, it was a very solid year for casinos stocks, with many of the bigger companies outperforming t...

Hospitality Leadership Solutions Series: Embrace Charisma, Not Stoicism

James Houran | October 19, 2018

By: James Houran, Ph.D., Dallas | Keith Kefgen, New York Noted hospitality thought leaders and corporate governance/ performance management experts Kefgen and "Dr. Jim" share common management challenges while providing time-tested, field-tested or just simple "quick-fix" ideas to keep professionals inspired, effective and successful. Some of the most memorable and effective mid-managers and senior executives utilize leadership charisma to bolster their personal brands, build alliances, gain buy-in from team members and maximize their influence internally and externally to their organizations. But some of the most charismatic leaders h...

Hospitality Leadership Solutions Series: Is Self-Confidence Friend or Foe?

James Houran | September 19, 2018

By James Houran, Ph.D. and Keith Kefgen Noted hospitality thought leaders and corporate governance/ performance management experts Kefgen and "Dr. Jim" share common management challenges while providing time-tested, field-tested or just simple "quick-fix" ideas to keep professionals inspired, effective and successful. Self-confidence can be a friend and foe to emerging leaders and seasoned executives alike. In many cases, leaders must think and act against popular wisdom, and thus must exhibit confidence and grit in the face of severe—and even very public—opposition. Of course, self-confidence can also lead one down a very ...

CEO Pay in Gaming: Founders vs Corporate Executives

Keith Kefgen | December 6, 2017

By Keith Kefgen Besides technology, the gaming industry has one of the largest percentages of entrepreneurs running their respective companies. Larger than life personalities such as Steve Wynn and Sheldon Adelson actually cast a shadow well beyond gaming. But that is changing as entrepreneurs are slowly being replace by corporate execs such as Keith Smith at Boyd, Jim Murren at MGM, Tim Wilmott at Penn and Mark Frissora at Caesars. It is interesting to see how CEO compensation has changed as this process has unfolded. Generally speaking, the entrepreneurs took more of the compensation in equity, while corporate executive appear to have...

Why ‘Heart and Soul’ Is Also a Strength in Leadership

James Houran, Ph.D., Dallas | December 4, 2017

By James Houran, Ph.D., Dallas and Keith Kefgen, New York One of the most difficult and humbling things for us human beings is to admit we don't know something. Our brain has evolved over thousands and thousands of years into a three-pound, organic computer with the sole task of "making things more certain." Gaining mastery and a sense of control over our physical and psychological environments is a natural, inherent human drive. Many people assume that admitting ignorance about and asking for help in understanding specific things is somehow a sign of weakness and a public declaration that one is uninformed, incompetent or outright dim-...

CEO Pay in Gaming: Founders vs Corporate Executives

Keith Kefgen, New York | November 6, 2017

By Keith Kefgen Besides technology, the gaming industry has one of the largest percentages of entrepreneurs running their respective companies. Larger than life personalities such as Steve Wynn and Sheldon Adelson actually cast a shadow well beyond gaming. But that is changing as entrepreneurs are slowly being replace by corporate execs such as Keith Smith at Boyd, Jim Murren at MGM, Tim Wilmott at Penn and Mark Frissora at Caesars. It is interesting to see how CEO compensation has changed as this process has unfolded. Generally speaking, the entrepreneurs took more of the compensation in equity, while corporate executive appear to have...

Excuses are For Losers: Leadership Involves Pressure and Personal Sacrifice

James Houran, Ph.D. | October 27, 2017

By James Houran, Ph.D., Keith Kefgen Behind every failed leader is an excuse. In our experience studying and working with global leadership in the hospitality industry, successful leaders consistently tell us in one way or another that excuses were for "losers" whereas "winners" find solutions to tough challenges, or at least look at failed initiatives with a winning attitude and use the situation to adopt key learnings to apply to future scenarios. It's easy to lay claim to the title of leader when things are going well, but taking responsibility for your actions is difficult when things get tough. In today's Twitter and social media a...


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