PEORIA — An investment group that previously pressured Caterpillar Inc. to alter executive compensation formulas is asking shareholders to once again nudge the board of directors in a different direction at the company’s annual meeting this week.
CtW Investment Group wants shareholders to endorse strengthened executive compensation clawback provisions — giving stockholders more ways to recoup money from company officers found to have been negligent or to have engaged in misconduct.
CtW, which promotes investor activism by working with the pension funds of a federation of unions representing 5.5 million members and more than $200 billion in assets, also seeks more transparency from Caterpillar when clawbacks occur.