Just one day earlier, ISS Governance Services, focusing more on executive pay, advised Citi shareholders to vote against the reelection of Richard Parsons, Alain Belda and Kenneth Derr, who are on Citi's executive compensation committee, and against Anne Mulcahy, a member of the audit committee.

FORBES: Off With Their Heads!

The audit committee function is vital, as is the governance, compensation, and in some cases executive committee obligations.

FORBES: Bored With Board Seats

But the more discretion the committee has over executive compensation, the more explaining it needs to do.

FORBES: Bringing the Investor Perspective into the Boardroom: Five Minutes with Stephen Brown, Director of Corporate Governance and Associate General Counsel for TIAA-CREF

In order to rebalance power, the chair decided to hold executive sessions both before and after the compensation committee meetings.

FORBES: Help Wanted: Compensation Committee Chair

Recent major issues resolved by the Special Committee on Governance of the NYSE concern disclosure of executive and director compensation, NYSE officer service on listed company boards and the influence of securities industry directors who serve on the 27-person NYSE board.

FORBES: Self-Regulation Hits The NYSE

Wednesday, when the House Financial Services Committee hauls in Paulson and Bernanke, expect the hearing to focus on executive compensation and mortgage debt relief.

FORBES: Magazine Article