Shareholders' rejection of Citigroup's executive compensation plan last month garnered lots of press, but for the most part investors are giving pay packages a thumbs up this year, in line with last year's results.
Statistics from HR consulting company Towers Watson show companies have averaged support of 89% in the close to 900 say-on-pay votes conducted so far this year, little changed from average support of 90% in 2011.
"You look at our summary and you see a lot of consistency that doesn't look too different from last year," says Jim Kroll, senior consultant at Towers Watson. "But the failures are consistent as well. A meaningful number of companies failed last year, and in percentage terms we're tracking along those lines."
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
