We chose today as the date for our forum because it marks the inauguration of say-on-pay: effective today, you get a vote on the compensation of the CEOs of the companies you own. So far, there's been more whimper than bang associated with this new shareholder right. There's been discussion about how often shareholders should exercise it: every year? every three years? But I can't find much else on Google News.
I'm not sure whether the deafening silence is because no one is sure what will come of all this, or everyone knows nothing will come of it. I tend to think the latter: say on pay will be another annoyance in an already overloaded proxy. Most shareholders won't vote and there'll be very little utility to the information we gain from the votes.
Bah. Much ado about nothing. Or am I wrong?
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