Shareholders Vote Yes on Pay, No on Shareholder Proposals at Amazon

At its annual meeting for shareholders, Amazon’s investors approved a more than $212 million payout for CEO Andy Jassy [despite recommendations against from ISS and Glass-Lewis and a pay ratio of 6000/1] and voted against 15 proposals asking the company to report on worker safety, climate goals, pay rates, use of its face recognition technology…

Intel CEO salary: Shareholders vote against executive pay program | Fortune

Around 1.78 billion votes, making up around 54.2% of shareholders of the chip-manufacturing giant, were cast against the executive compensation, while 932 million votes were made in favor. Around 577 million votes abstained or were broker nonvotes. The vote is advisory and won’t take immediate effect, but it indicates that a growing number of stockholders…

CEO Pay Packages Rose to $14.7 Million in 2021, a New High – WSJ

The median pay package for chief executives of the biggest U.S. companies reached $14.7 million in 2021, setting a sixth-straight annual record as strong profits and robust markets boosted performance measures. Total compensation rose by at least 12% for most of the executives, and most companies recorded annual shareholder returns of nearly 30%, according to…

Inflation is being blamed on politics and supply chain shortages, but many companies are using this oportunity to raise prices and CEO compensation. From Accountable.US: The 2021 Consumer Price Index (CPI) showed that overall, prices on common goods and services increased by 7% from December 2020 to December 2021. Unfortunately, more recent CPI data suggests this pattern will continue….

Agenda – ‘Big Bounce Back’ in Raises for CEOs Seen in Early Proxies

In the least surprising announcement of the week, we find that CEO bonuses are up again. Our favorite line in this Agenda piece is this one: “Compensation committees allowed for wide berth in setting incentive goals due to uncertainty related to the pandemic.” Translation: why should pay be tied to performance when the world is…

How Comp Committees Stack the Deck for CEO Bonuses — Bloomberg Law

Michael Rapoport and Nicola M. White write about the tricks, dodges, and obfuscation compensation committees use to hike CEO bonuses unrelated to performance. VEA Vice Chair Nell Minow is quoted: “There are so many ways to game the system,” said Nell Minow, vice chair of ValueEdge Advisors, a corporate-governance consulting firm. “It’s absolutely atrocious.” Discovery…

Fossil Fuel CEOs Grab Huge Pay While Consumers Suffer

Fossil fuel CEOs are not just taking advantage of the Russian invasion of Ukraine to beg for more leases, they’re jacking up prices and their own pay. For the record, these profits have nothing to do with any vision, leadership, or strategy and it is a complete failure of oversight by their boards. From Accountable.us:…

Proxy adviser ISS urges vote against $247mn pay for Discovery chief | Financial Times

Institutional Shareholder Services, a proxy adviser, has criticised a $247mn pay package for Discovery chief executive David Zaslav, setting up a showdown with investors as the media company is finalising its acquisition of WarnerMedia. Citing “significant concerns” with “excessive” stock options given to Zaslav, ISS recommended Discovery shareholders withhold voting for the three company board…

Agenda – Pay Cuts Unlikely to be Popular with Executives

In a rare move, the embattled heavy machinery production giant General Electric bowed to investor pressure and cut a previously awarded pay package for CEO Larry Culp this month. Still, investors say they are not satisfied with the board’s attempt to address their concerns about what they view as a poorly aligned executive pay regime….