> "There is not a lot of history of laziness being rewarded with success. Hard work is an essential ingredient in any recipe for success. I embrace this, and the most successful people I know do as well."
I can't imagine a single worse strategy as a leader than to choose 'reduce pay' and 'imply laziness'. Did this guy get his management degree from the Roman empire? Just fire people and say you over-hired, holy cow.
I'm not part of the "talented executives shouldn't get paid a lot" crowd, but the important part is the talented bit.