Canada lagging behind on ‘say on pay’

While more shareholders have been putting their foot down on excessive chief executive officer pay, not enough progress has been made, according to a new report by U.S.-based non-profit foundation As You Sow.

“Opposition to high CEO pay has risen, and more companies have seen their CEO pay packages receive less and less support from their shareholders,” noted the report. “European funds and U.S. public pension funds have made their opposition to a broken system clear. In this year’s report we pay special attention to those funds with the greatest change in voting practices on the issue of CEO pay, as well as highlight some of the reasons that have led to more shareholder votes against those pay packages.”