May 28, 2014
Say-on-Pay: Failure Follows CEO As He Switches Companies
– Broc Romanek, CompensationStandards.com
As the number of annual meetings peaks – and thus so do the failures to obtain majority support on say-on-pay – it’s worth noting a company who just failed say-on-pay with a new CEO (Endurance Specialty Holdings) was the CEO at a different company last year (AXIS Capital Holdings Limited), whose say-on-pay failed in 2013 (but passed this year after he left). Also noteworthy is that the head of HR moved companies with the CEO. I don’t believe there any other cases where the CEO and CHRO were affiliated with two different say-on-pay failed companies in back-to-back years…