A BRIEF HISTORY OF SAY ON PAY
In 2007, the real start of the Say on Pay campaign in the US, no one would have predicted that, by the 2009 proxy season, there would be over 400 companies with a management proposal to approve executive compensation. While its history is a relatively short one in the US, it is longer elsewhere and...
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Published in | Ivey Business Journal (Online) p. N_A |
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Main Author | |
Format | Trade Publication Article |
Language | English |
Published |
London
University of Western Ontario
01.09.2009
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Subjects | |
Online Access | Get full text |
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Summary: | In 2007, the real start of the Say on Pay campaign in the US, no one would have predicted that, by the 2009 proxy season, there would be over 400 companies with a management proposal to approve executive compensation. While its history is a relatively short one in the US, it is longer elsewhere and longest in the UK. In August 2002 the UK government introduced the Directors' Remuneration Report, regulations which included the requirement to put a remuneration report to a shareholder vote at each annual general meeting. In the US, average support for Say on Pay proposals from 2007 to 2008 increased modestly, from 40.8% to 41.7%. In March 2009, the SEC reacted to legislation in the American Recovery and Reinvestment Act that would require all companies receiving funds from the US Treasury to place a Say on Pay vote on their ballot. |
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ISSN: | 1492-7071 |