Shareholders want CEO pay limits that are tied to company performance and are increasingly frustrated by how the unilateral adoption of bylaw amendments by boards may diminish their rights. Those were among the findings from proxy advisor Institutional Shareholder Services’ annual global voting policy survey.
The survey of both shareholders and issuers was structured around several high-level themes, including: pay for performance; board accountability; boardroom diversity; equity plan evaluation; risk oversight and audit; cross-market listings; and environmental and social performance goals. ISS received more than 370 total responses to this year’s survey, of which 105 were institutional investors, nearly one-third of whom manage assets in excess of $100 billion. Roughly 70 percent of these respondents were based in the U.S.
