Gilbert Porterfield, vice president for compensation at Top Chemical Company, watched nervously as the special committee for compensation redesign gathered to discuss the proposed pay plan. Members from top and middle management, as well as peer group representatives from throughout the company, settled into their seats holding copies of his plan for this 93-year-old, $2 billion company. TopChem CEO Sam Verde opened the meeting.
A version of this article appeared in the January–February 1992 issue of Harvard Business Review.
