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May 26, 2009

All Business: Say-on-pay? Investors in U.S. still pretty quiet

  • So far there are few examples of shareholders fighting back against CEO pay levels and ineffective boards.
    AP Business Writer

    NEW YORK — This was the year corporate governance experts predicted that investors, stung by plunging stock prices as the recession intensified, would finally demand big changes in CEO pay levels and ineffective boards.

    But so far during this spring's annual meeting season, there have been few examples of investors fighting back. Shareholders have yet to vote down a single executive pay plan at U.S. companies and only a handful of corporate directors have lost investor backing. Support for corporate management is still the status quo.

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