New SEC chief favors “say on pay”
The new SEC chairman has come out in favor of giving shareholders an advisory vote on executive pay.
The new SEC chairman has come out in favor of giving shareholders an advisory vote on executive pay. In response to questions posed to her during her Senate confirmation hearing, Mary Schapiro answered that executive compensation has been a persistent concern of hers and that “it’s an appropriate measure to give shareholders an advisory vote on these matters.” The House passed a so-called say-on-pay bill in the last Congress, but the Senate never took up the issue.
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