…Alan Johnson, managing director of compensation consulting firm Johnson Associates, said executives should expect to take a pay cut if there’s a scandal on their watch, even if the conduct happened prior to their time in that role. “The expectation is, you take a hit. It may not be your fault…the lesson for executives is to expect it,” said Mr. Johnson. His advice: Get out ahead of the board and volunteer for the pay cut, or give up an expected bonus. “It’s probably going to happen anyway, so why go through the pain of [the board] having to agonize over it?” he said….

The Wall Street Journal / March 11, 2015