Friday, April 20, 2007
The AFL-CIO is campaigning against the re-election of the six Verizon directors who sit on the compensation committee, to protest what it says is the too-generous pay package of CEO Ivan Seidenberg. The annual meeting is scheduled for May 3, the first one held under the company's majority vote rule. Activist shareholders waged a similar campaign at Toll Brothers (vote not yet disclosed) and are expected to launch one at CVS/Caremark. See WPost, AFL-CIO Goes After 6 Verizon Directors.