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GM shareholders upset over Wagoner's pay
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Posted on
Jun 06 2008 7:38 AM
by
Asif
Filed Under:
GM
,
Considering the sorry state of financial affairs that GM appears to be in, it seems extremely unsurprising that the board would like to see some big changes made at the very top of the company. What is a little shocking, though, is just how soundly the specific proposals were rejected. For instance, a proposal sponsored by John Chevedden of Redondo Beach, California, which would have given shareholders an annual advisory vote on executive compensation and pay, found less than 38-percent of voters in support. Another proposal which was soundly defeated would have tied executive stock options and awards with company performance.
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