Most company shareholder resolutions sail through without much opposition at annual meetings, but not this one: On Tuesday Citigroup shareholders voted against the company’s executive pay plan for CEO Vikram Pandit and other top executives. The vote isn’t binding (it’s part of the Dodd-Frank legislation), but Citigroup says the board of directors is taking the shareholder vote seriously. As it should — about 55 percent of those voting were against the plan, which shouldn’t be a major surprise considering the bank failed the Federal Reserve’s stress test about a month ago.
Full ABC News story here: http://yhoo.it/JcRv9A
It's about time shareholders let their voices be heard!
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