Novartis, for instance, , has been criticized for failing to conduct an annual say-on-pay shareholder.
FORBES: The Novartis Board Insulted Shareholders With Hush Money For Dan Vasella
Say-on-pay rules, which allow shareholders a vote on pay-and-perk packages, are spreading across continental Europe.
Say-on-pay regulations are more prevalent in Europe than in other regions of the world.
In the U.S., the Dodd-Frank financial-overhaul law gave shareholders a nonbinding say-on-pay vote starting in 2011.
That indicates a considerably higher endorsement rate than ISS usually gives to say-on-pay votes, according to Ms. Bowie.
Successful shareholder relations in the say-on-pay era will require far more than a resolve to be open and responsive.
The idea of giving shareholders a "say-on-pay" is popular in Europe and is growing in popularity in the United States.
Starting in 2011, the Dodd-Frank financial-overhaul law gave shareholders at all but the smallest U.S. companies a nonbinding say-on-pay vote.
Other countries, including the Netherlands, the U.K. and Norway, also have forms of say-on-pay votes with varying degrees of strictness.
However, the protest vote over remuneration is an increase over last year, when 83 per cent of votes cast supported Apple's "say-on-pay" proposal.
This statistically conspicuous increase suggests, of course, that a bad economy directly encourages activism, as do legislative events like Dodd-Frank, with its say-on-pay provisions.
FORBES: Shareholder Activism: This Specter Won't Stop Haunting the Marketplace
The bankers acknowledged the compensation -- they had problems with compensation, that they were taking steps on say-on-pay and on long-term equity versus short-term cash.
This is the third year that investors have been granted an advisory "say-on-pay vote" at US companies as part of reforms that followed the financial crisis.
Institutional Shareholder Services, which advises large investors how to vote in corporate elections, recommends a "no" vote for an average of 13% of say-on-pay votes a year.
That's why he is for and promoting say-on-pay legislation.
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Additionally, TARP participants were the first companies required to conduct say-on-pay votes, introduce clawbacks and conduct risk assessments, practices that are now mandatory under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
This was no short-lived effect since it was reflected in the market-to- book-value of the firm years after being adopted, and it was also reflected in an improvement in firm operating performance (especially for say-on-pay).
"Citigroup lost their say-on-pay vote because there was too much discretion in the way compensation was awarded, " said Robin Ferracone, founder and chief executive of Farient Advisors, an executive-compensation consulting firm based in Los Angeles.
And I think -- again, I think there are those that are taking steps -- again, this is something that we'll be able to -- as they institute different types of reforms, we'll be able to evaluate whether they adopt say-on-pay.
The President discussed quite clearly the very real concerns that he has and he enumerated last evening, and has for quite some time, about executive compensation -- which is why a say-on-pay is in the financial reform legislation that passed the House last Friday, which the President believes in very important.
Using US data, we find that adopting say-on-pay, a regular non-binding shareholder vote on executive compensation (similar to issue 1 in the Swiss referendum, although it will be a binding vote in Switzerland) and removing staggered boards (similar to issue) along with other corporate governance improvements unambiguously improves firm value on average, as reflected by the stock market.
So far in 2011, shareholders at U.S.-listed companies are taking advantage of the Say on Pay provision provided under the Dodd-Frank Act, the legislative response to the 2008 financial crisis.
FORBES: No Work and All Pay? Shareholders Will Have Their Say.
Such an arrangement would allow both providers to pay less for the content (say, two-thirds of what HBO would pay on its own) while allowing Warner Bros.
Perhaps driven by Dodd-Frank and Say on Pay, we are seeing a new energy around companies telling their stories from a fresh perspective.
The unions say their case is based on years of low pay increases - highlighted, they point out, by the prime minister among others, and used as a prominent argument to get through legislation on variable tuition fees.
BBC: NEWS | UK | Education | Unions praise pay strike response
In other words, shareholders are taking advantage of the Frank-Dodd Act as an opportunity to have their say on pay policies.
FORBES: No Work and All Pay? Shareholders Will Have Their Say.
We are advocates of Say on Pay and were advocates long before it became mandatory under Dodd-Frank.
Mr Gray went on to say Scotland's public sector pay needed to be tackled - but stressed the issue must be taken forward with proper negotiation, such as what workers would get in return.
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