Thirty Catholic and other faith-based institutional investors are using their shareholder clout to urge 21 health-related companies to disclose publicly the compensation packages for their top executives and their lowest-paid U.S. employees, including the costs of health care. Shareholder resolutions filed by the Interfaith Center on Corporate Responsibility are seeking reports comparing total compensation packages of highest and lowest paid employees in 2000, 2004 and 2009. The report would analyze any change in the relative size of the gap between the two; evaluate whether top executive compensation packages should be modified; and decide whether the corporate board should continue to monitor the results of the comparison. “Given the historical lack of transparency in the health care industry related to costs, this [information] is not something that shareholders know today,” said Margaret Weber, who chairs the board of the Interfaith Center on Corporate Responsibility and represents the Basilian Fathers of Toronto.
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