Verizon Communications has turned up the heat on whether shareholders should have a greater say in executive pay packages, an issue that dominated this year’s proxy season and is sure to be back again in 2008.
The telecom giant earlier this month voluntarily adopted a policy to let shareholders have an advisory vote on executive pay packages, starting with the company’s annual meeting in 2009. In making the announcement, Verizon pointed to the results of its 2007 annual meeting, where 50.2 percent of shareholders approved a proposal calling for such “say on pay” votes.
