Big shareholders for years have grumbled about the rise in executive pay. Now, activist investors are taking up the compensation cause, focusing less on how much corporate leaders earn and more on whether they deserve what they get.
Case in point: Shutterfly Inc., where an activist hedge fund is seeking three board seats at the online photo retailer at a shareholder vote set for Friday. The founder of Marathon Partners Equity Management LLC said once the fund "started peeling back the onion" on Shutterfly's pay plans, it found "a compensation scheme that had run amok."
By Liz Hoffman, By Dow Jones Business News, June 11, 2015, 05:51:00 PM EDT
Read more: http://www.nasdaq.com/article/activist-funds-put-executive-pay-formulas-under-microscope-20150611-00976#ixzz3f3nQOlf4
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