Tuesday, April 06, 2010
U.S. companies put up barriers to proxy fights
Heading into an annual proxy season bristling with investor anger over executive salaries, some companies are working overtime to silence sensitive shareholder resolutions.
Ever protective of the proxy process, companies are getting more aggressive this year, say attorneys and advocates on both sides of the contests, a view backed by data on challenges.
Take EMC Corp for example. In December, the Massachusetts data-storage giant asked regulators for permission to skip a question on giving shareholders an advisory vote on executive pay.
See full Article.