BOSTON (Reuters) - Large U.S. companies accused of overpaying their chief executives faced few critical proxy votes from top index fund firms last year, a new report found on Tuesday, even as other asset managers got tougher with their ballots.
BlackRock Inc (BLK.N) and Vanguard Group, the two largest U.S. index fund firms, cast advisory votes against the pay of excessively compensated S&P 500 CEOs just 8% and 10% of the time last year, according to the study by activist shareholder organization As You Sow.
Those figures were close to the firms’ levels of opposition in prior years, while a number of other large asset managers including several in Europe cast critical votes more frequently during the 12-month proxy season ended June 30, 2019, according to the report and data from its author, Rosanna Landis-Weaver. Read Full Article - Reuters, February 25, 2020