The Wall Street Journal (June 26) cites the latest edition of ProxyPulse, a joint publication of Broadridge Financial Solutions Inc. and PwC's Center for Board Governance, in reporting that shareholder support for executive compensation plans has declined this year at mid-cap, small-cap, and micro-cap companies. According to the newspaper, ProxyPulse analyzed 2,788 shareholder meetings held between Jan. 1 and May 22 and determined that "say-on-pay proposals failed to receive majority support at 72 companies compared to 54 companies in 2013." Mary Ann Cloyd, head of PwC's Center for Board Governance, remarks, "This trend points to the significant pressures boards still face around executive compensation." The report further shows that average support levels for executive pay plans climbed from 89 percent to 91 percent at large-cap companies.
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