Financial Times (April 18)
In the U.S., ‘say-on-pay’ votes were first required last year. On Tuesday, Citi’s shareholders voted down the proposed compensation package, becoming “the first big US bank to suffer majority dissent in a ‘say-on-pay’ vote and only the 12th S&P 500 company to lose such a ballot.” Citi joins a growing list of companies where shareholders rejected proposed compensation. “Last year 41 companies in the Russell 3000 – including Hewlett-Packard, Jacobs Engineering and Stanley Black & Decker – failed to receive majority support in such votes.”
In the U.S., ‘say-on-pay’ votes were first required last year. On Tuesday, Citi’s shareholders voted down the proposed compensation package, becoming “the first big US bank to suffer majority dissent in a ‘say-on-pay’ vote and only the 12th S&P 500 company to lose such a ballot.” Citi joins a growing list of companies where shareholders rejected proposed compensation. “Last year 41 companies in the Russell 3000 – including Hewlett-Packard, Jacobs Engineering and Stanley Black & Decker – failed to receive majority support in such votes.”
Tags: Citi, Compensation, S&P 500, Say on pay, Shareholders, U.S.
