J&J execs get pay raises, however solely after bruising shareholder ‘Vote No’ marketing campaign

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Roughly 57% of investor votes solid backed healthcare firm Johnson & Johnson's government pay for 2020, a low degree of assist for a proposal most shareholders often rubberstamp.

The low assist, not together with abstentions, for the non-binding proposal comes after the Workplace of the Illinois State Treasurer urged different shareholders to vote "No" on the corporate's pay practices, particularly as a result of J&J units apart sure litigation prices when calculating government compensation, together with from the U.S. opioid epidemic.

CEO COMPENSATION GREW 14% IN 2019

J&J didn’t instantly reply to a request for touch upon Monday.

Proxy advisors Glass Lewis and Institutional Shareholder Providers Inc additionally really useful towards J&J's pay. Johnson & Johnson had stated it has at all times excluded sure one-time prices in its compensation for high brass.

Ticker Safety Final Change Change %
JNJ JOHNSON & JOHNSON 163.41 -0.73 -0.44%

"This vote demonstrates the numerous disapproval amongst Johnson & Johnson shareholders," stated Illinois State Treasurer Michael Frerichs in a ready assertion. "This vote sends a powerful message to the corporate that executives must be accountable for all penalties of company conduct."

Different firms going through low say-on-pay assist have stated they’d change their government compensation constructions sooner or later.

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Drug distributor Cardinal Well being Inc has stated it can have interaction with shareholders to include their views in its government compensation plan after a minority of them revolted in November towards an government pay construction just like J&J's.

Walt Disney Co in 2018 adjusted the compensation of then-CEO Bob Iger after 52% of shareholders rejected his pay, Reuters has reported.

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