Sprint Corp. shareholders voted 60% in favor of reappointing auditor Ernst & Young despite possible conflicts of interest. The $131 billion California Public Employees Retirement System, Sacramento, and C$66.2 billion ($47.7 billion) Ontario Teachers Pension Plan, Toronto, opposed Ernst & Young because of its non-audit work for the company and tax-shelter advice for former executives.
Among other shareholder resolutions, 68% were against repricing options, 86% opposed a cap on CEO pay, and 63% supported calling for shareholder approval of severance agreements with senior executives. Sprints board will "reconsider its assessment of the (severance) proposal, said Mark Bonavia, director-corporate communications. That proposal was sponsored by Amalgamated Banks Trust and Investment Services Groups $4 billion LongView S&P 500 index fund.