Facts Behind 2013 “Turnaround” Success for Say on Pay Votes

The Harvard Law School Forum on Corporate Governance and Financial Regulation 2013-09-05

Summary:

Editor's Note: The following post comes to us from David Drake, President of Georgeson Inc, and is based on a Georgeson report by Mr. Drake, Rajeev Kumar, and Rhonda Brauer; the full report, including tables, is available here.

The 2013 proxy season marked the third year of Advisory Vote on Executive Compensation (a.k.a. Management Say on Pay, or MSOP proposals) as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. This post looks at some of the interesting facts relating to the 39 companies that received majority shareholder support for their MSOP vote in 2013 (for meetings held on or before July 31) after failing the vote in 2012 (turnaround companies [1]). The factors that contributed to turnaround success included improved total shareholder return, significant shareholder outreach, changes in compensation programs, support of proxy advisory firms, and utilization of compensation consultants and proxy solicitors.

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Link:

http://blogs.law.harvard.edu/corpgov/2013/09/05/facts-behind-2013-turnaround-success-for-say-on-pay-votes/

From feeds:

Blogs.law Aggregation Hub » The Harvard Law School Forum on Corporate Governance and Financial Regulation

Tags:

practitioner publications corporate elections & voting proxy season executive compensation management say on pay compensation consultants proxy advisors proxy voting david drake georgeson rajeev kumar rhonda brauer

Authors:

Noam Noked, co-editor, HLS Forum on Corporate Governance and Financial Regulation,

Date tagged:

09/05/2013, 13:50

Date published:

09/05/2013, 09:32