Battles over CEO pay across the globe
Recasts paragraphs 1 & 2 to add Salesforce shareholders rejecting CEO compensation plan; adds Tesla shareholders' approval of CEO Elon Musk's pay package
July 2 (Reuters) -A majority of Salesforce CRM.N shareholders voted against a compensation plan for CEO Marc Benioff and other top executives, according to a security filing on Monday.
Benioff received $39.6 million in total compensation for fiscal year 2024, up from $29.9 million in the prior year.
Below are other CEO pay packages that have faced a tough fight:
Year | Company | Description |
2024 | Tesla TSLA.O | A Delaware judge in January voided Tesla CEO Elon Musk's $56 billion pay package, calling it as "unfathomable." Shareholders, in June, approved the package, despite opposition from some large institutional investors and proxy firms. |
2024 | AstraZeneca AZN.L | Over a third of AstraZeneca's investors opposed its 2024 pay policy, which will boost CEO Pascal Soriot's remuneration to as much as 18.9 million pounds. It won the backing, however, of the required majority of votes. |
2024 | 3M MMM.N | In May, 3M shareholders voted down the annual compensation packages of certain executives, including that of former CEO Mike Roman. |
2024 | BlackRock BLK.N | BlackRock's executive pay, including that of CEO Larry Fink, won narrow support from shareholders, with about 42% of votes cast opposing it. |
2024 | Boohoo BOOH.L | UK-based Boohoo Group's bosses waived their annual bonuses in May and scrapped plans to raise executive awards after backlash from shareholders. |
2023 | BP BP.L | Former CEO Bernard Looney had more than $40 million cut in his compensation after the British oil giant concluded he misled the board over personal relationships with colleagues. |
2023 | Telecom Italia TLIT.MI | Shareholders rejected Telecom Italia's pay policy after top investor Vivendi criticized criteria to award bonus payments to CEO Pietro Labriola. |
2022 | Intel INTC.O | Intel shareholders rejected compensation packages for top executives, including a payout of as much as $178.6 million to CEO Pat Gelsinger. |
2021 | Rio Tinto RIO.L, RIO.AX | Rio Tinto shareholders rejected the miner's executive pay packages, in a backlash over its destruction of ancient rock shelters in Western Australia the previous year. |
2021 | McDonald's MCD.N | Former CEO Steve Easterbrook agreed to return compensation worth $105 million in equity awards and cash to settle a lawsuit over alleged lies about affairs. |
2021 | GE GE.N | GE shareholders rejected executives' compensation packages, including a payout of as much as $230 million to CEO Larry Culp. |
2021 | Morrisons | Investors in the British supermarket group overwhelmingly rejected its pay report in 2021. |
2021 | Halliburton HAL.N | More than half of Halliburton's shareholders voted against its proposed executive compensation plan. |
2021 | UniCredit CRDI.MI | The Italian bank's boss, Andrea Orcel, narrowly avoided a shareholder revolt against his pay package, securing only 54% of votes at a general meeting after top investor BlackRock voted against it. |
2019 | CBS | CBS Corp fired Leslie Moonves for cause and denied a $120 million severance package after the former chief executive was accused of sexual harassment and assault that allegedly took place before and after he joined the company. |
2017 | Uber UBER.N | Travis Kalanick, Uber's co-founder and CEO, was forced to resign after a series of scandals plagued the company, including allegations of sexual harassment and a toxic workplace culture. Shareholders later sued the board, alleging it failed to properly oversee Kalanick and allowed the scandals to occur. |
2017 | Equifax EFX.N | After a massive data breach exposed millions of customers' personal information, Equifax's CEO received significant criticism for his handling of the crisis and a hefty bonus. Shareholders filed suit alleging the board failed to properly oversee the CEO. |
2017 | BP BP.L | BP cut CEO Bob Dudley's 2016 pay package by 40% after a wave of shareholder revolts. |
2016 | ViacomVIACOM.UL | A shareholder lawsuit claimed that Viacom and CBS Corp's executive chairman, Sumner Redstone, was improperly paid millions though "he was physically and mentally incapacitated." |
2011 | Occidental Petroleum OXY.N | Occidental Petroleum CEO Ray Irani was criticized for excessive pay after his compensation grew 40% in 2009 to $31.4 million. Shareholders pushed for board seats. |
2002 | Worldcom | After an accounting scandal that led to financial fraud, shareholders sued the company over excessive compensation awarded to executives, including the CEO. |
Reporting by Priyanka.G, Anchal Rana, Yadarisa Shabong and Jaspreet Singh in Bengaluru; Editing by Aditya Soni, Devika Syamnath, ,Matthew Lewis, Miral Fahmy and Sriraj Kalluvila
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
