Activist investors are gearing up for another busy proxy season, and as usual executive compensation will attract more attention than other issues. “It will be a major focus of our work,” confirms Brandon Rees, research analyst for the AFL-CIO Office of Investment. “It is always the single most focus of resolutions.”
Rees recently told Compliance Week that the AFL-CIO will file about a dozen proposals aimed at curbing pay, or more closely tying it to corporate performance or specific objectives. Ed Durkin of the United Brotherhood of Carpenters also confirmed to Compliance Week that his trade union has targeted about 30 companies for executive compensation issues. The Amalgamated Bank of New York’s Labor Oriented Long View Collective Investment Fund has also confirmed to Compliance Week that it has submitted about 10 proposals so far. And the American Federation of State, County and Municipal Employees has announced that it has submitted a dozen proposals related to some sort of executive compensation issue.
