(Reuters) - By a 269-134 vote, the House passed the "say on pay" bill drafted by Massachusetts Democrat Barney Frank, chairman of the Financial Services Committee, amid soaring pay for chief executives and rising worries about U.S. income inequality.
The measure would require corporations to hold the symbolic shareholder votes on pay each year, but they could ignore the outcomes. The measure is meant to make boards of directors think twice before giving massive pay packages to managers.
Read more at Reuters.com Government Filings News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment