Jim McRitchie reports on CalPERS votes against pay plans: Equilar announced, in partnership with CalPERS, the release of the CalPERS P4P Scorecard in Equilar Insight, the leading executive compensation benchmarking software solution. The release of the new scorecard is an extension of the five-year realizable pay calculation CalPERS and Equilar released earlier this year. Said…
Tag: ceo pay
European investors target lavish executive pay in US
Pay deals for top company bosses in the US face mounting opposition from some of Europe’s most influential investors even as their large American counterparts continue to provide solid support for exorbitant executive remuneration packages. The investment arms of UBS, Axa, Legal & General, BNP Paribas along with APG, Europe’s largest pension fund, voted against…
Delaware judge says Tesla board must face trial over Musk’s mega-pay package – Reuters
This is a very unusual ruling because judges usually defer to boards’ compensation decisions as well within their discretion under the broad protection of the business judgment rule. But this was a $2.6 BILLION pay package. And, significantly, the compensation committee had conflicts. A Delaware judge ruled on Friday that Tesla Inc’s (TSLA.O) board of…
Pay Ratio, Proxy Disclosure and Say on Pay Data from Shareholder Value Advisors
A webinar hosted by Stephen F. O’Byrne of Shareholder Value Advisors, revealed the meaningful and material link between compensation and shareholder value, the missing metric, and what the data show: Average employee pay can provide great insight on the alignment of employee pay with management pay and shareholder value but the required analysis goes far…
Will Comp Committees Factor in ESG?
At the Harvard Law School Forum on Corporate Governance and Financial Regulation, Don Delves, Robert Newbury, Ryan Resch, of compensation consultants Willis Towers Watson write about efforts to factor in ESG goals in incentive compensation. Since we have said that our evaluation of the new focus on stakeholders will depend in part on how pay…
Executive Compensation: The Role of Public Company Shareholders
Barbara Novick of BlackRock, Inc., one of the largest and most powerful institutional investors in the world, wrote about CEO pay and the role of shareholders. Of particular note is her assessment of proxy advisors, making it clear that proxy advisor clients appreciate the analysis and recommendations but have their own views. Proxy advisors are…
Bill Winters has undermined good corporate governance | Financial Times
The attack on shareholders by Bill Winters, chief executive of Standard Chartered, for opposing remuneration at the recent shareholder meeting was as unwarranted as it was surprising.While it could easily be dismissed as an individual’s ego bruised by the concerted opposition of nearly 40 per cent of proxies cast against his pay, the wider issues…
The Test of Time: Adapting to a New Era of Executive Compensation
In 2018, CalPERS voted against 45.4% of the S&P 500 on Say on Pay, according to corporate governance nonprofit As You Sow. These results are drastically higher than in previous years, as its five-year average for opposing Say on Pay votes was 16%. According to Simiso Nzima, Investment Director of Global Equity at CalPERS, among…
Activision Blizzard CEO’s $30M Pay Under Fire From Labor Union | Hollywood Reporter
The AFL-CIO’s secretary-treasurer, Liz Shuler, is calling on the SEC to “take action on corporate executives who abuse stock buybacks for their own personal gain.”The AFL-CIO, the nation’s largest federation of unions, has taken aim at Activision Blizzard CEO Bobby Kotick and his annual compensation in 2018 following a massive round of layoffs earlier this…
UAW Proposal on Clawbacks Endorsed by Mylan Shareholders
In a non-voting discussion item, shareholders supported a proposal by the United Auto Workers Retiree Medical Benefits Trust for Mylan to strengthen its clawback policy for senior executive incentive pay.The executive compensation vote is called Say on Pay. In its proxy statement, Mylan said, “Although advisory and not binding, the Compensation Committee and the board…
