Prince said in his testimony that much of the media's reporting on his pay was inaccurate, adding that Citi's Board of Directors uses a third-party consultant to advise the company on its executives' pay. "Citigroup has worked hard to align management's interests with the interests of shareholders," he said.
Since the third-party consultant is hired by the board, his/her recommendation would be closely tied to the number expected by the CEO. Should they be putting the interests of shareholders ahead of that of management? The entire issue that you need to have a huge compensation in order to attract top talents is beyond my comprehension. It implies that top talents are motivated by money only.