Investor Responsibility Research Center said there have been 322 shareholder resolutions related to CEO compensation this proxy season, up some 200% from 106 proposals in all of 2002. Of those this year, proposals calling for a shareholder vote on generous severance for senior executives received a majority vote at eight of 11 companies where IRRC has vote tallies so far this proxy season.
Proposals calling for a repeal of classified boards, or an end to staggered board member elections, received a majority of votes at 11 of 12 companies where IRRC has vote tallies. IRRC identified 56 such classified board resolutions this year, up from 51 in 2002.
On global warming, IRRC counted 26 such resolutions, up from 21 last year. Votes in favor have ranged from 5.2% to 26.9% at the four companies where IRRC has tallies. Details are on IRRCs website, at www.irrc.com/press_releases/05192003_Scorecard.html.