Shareholders Approve Merger but Oppose Johnson Controls’ Golden Parachutes | BizTimes Media

The plan to reward Johnson Controls Inc. executives with “golden parachute” compensation if they are terminated following the merger with Tyco International PLC is not sitting well with shareholders.

About 64 percent of Johnson Controls shareholders who voted on an advisory basis today opposed the compensation plan for the company’s named executive officers. The compensation vote was taken today when shareholders approved the merger of Johnson Controls and Tyco. The deal is set to go through on Sept. 2.

Source: Shareholders oppose Johnson Controls’ golden parachutes | BizTimes Media

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