A 2016 Nobel Prize winner said executive pay plans have grown too complex and cited the overuse of consultants, remarks that pay specialists on Tuesday said echoed the complaints of many investors about ever-more detailed compensation statements.

Finland’s Bengt Holmstrom, a co-winner of the Nobel Economics Prize for his work on contract theory, said that too many pay plans include contingencies or long-term performance goals that make them unwieldy.

“They have got to get to something simpler,” the Massachusetts Institute of Technology professor said of corporate boards. He was speaking at a press conference the school held on Monday after the latest Nobel Prize winners were announced. Read More