Questions about executive compensation and political contributions peppered Clear Channel Communications Inc.'s otherwise subdued annual meeting Wednesday at a downtown San Antonio hotel.
Investors in the nation's biggest radio station ownership group voted to reject two shareholder proposals that would have given its board more oversight of top officers' compensation and require the company to provide details about its political contributions.
The executive pay questions came less than a week after the California Public Employees' Retirement System urged Clear Channel to improve its financial performance and governance practices. The company's executive pay has increased while its stock value dropped 42 percent over the past five years, according to CalPERS, the nation's largest public pension fund.
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