May 3, 2010
Shareholders Saying "No" to Say on Pay
"Say on pay" measures were on the proxy for DuPont and Johnson & Johnson. In both cases shareholders rejected the measures (DuPont here and J&J here). Don't know if that's typical of all say on pay measures. Though I'll admit to being surprised at the results. Meanwhile, the financial reform package making its way through Congress contains a mandatory say on pay provision. Reticence to move too quickly out in front of the Feds might account for the failure of the question at both DuPont and J&J.
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