The effort to give stockholders a “say on pay”—determining the compensation packages of companies’ top executives—gained traction in 2009 as 38 publicly traded companies said they would address compensation issues. While some companies saw the writing on the wall regarding executive pay in the slumping economy of 2009 and pledged to adjust pay packages, others still resisted. At Cisco Systems, the technology corporation, shareholders forced a vote on the issue for the second year in a row in 2009. They prevailed this time, garnering 51.4 percent of all shares voted. The issue has also picked up steam in Washington, where government officials rescued financial firms through its Troubled Assets Relief Program and joined the outcry when some bailed-out firms still produced hefty bonuses for top executives.
A Push for Executive Accountability
Show Comments (
)
Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
The latest from america
While we are going to continue to advocate for the dignity of the unborn, let’s admit Kamala Harris has Catholic cred on other important issues.
“The Remarkable Life of Ibelin” presents the internet as a place where true connection is possible and limitations can be transcended.
A Homily for the Solemnity of All Souls, by Father Terrance Klein
Cardinal McElroy shared his reflections on the synod with America Vatican correspondent Gerard O'Connell in this wide-ranging interview at the North American College in Rome.