i agree that you should pay your directors high. However do note a few things:
- Many of the old board were directors of other companies.
- They had contracts with their own companies and that is strictly not allowed unless it is declared.
- They misused funds.
And on top of that, they had many promotions and raises. In this case, the old board has already overextended what their powers should have given them.
And even if they were underpaid, they could have resigned from the board. There's no need to work for an underpaying company if that was the case.
Hence, the viewpoint that they should be paid well should not apply to them.