Who should decide how much CEO’s are compensated?

Corporate Governance – required Post
This week is based on three readings: 
Is Good Governance Good for Business http://dealbook.nytimes.com/2012/09/12/investing-in-good-governance/
The Worst Board in the Country
http://www.economist.com/node/21529101?zid=294&ah=71830d634a0d9558fe97d778d723011d
and How much Executives should be Compensated and who should decide Executive Compensation
http://www.forbes.com/sites/edwardlawler/2012/10/09/outrageous-executive-compensation-corporate-boards-not-the-market-are-to-blame/
Students, read, discuss. 
Corporate Governance Part 1
Let’s ask two questions:
Who should decide how much CEO’s are compensated?
Should CFO’s sit on the Board?