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Sep192009

Microsoft plans advisory shareholder vote on executive pay

Microsoft’s board says it’ll hold a non-binding, advisory shareholder vote on the salaries of the company’s executives every three years, starting with the upcoming shareholders’ meeting. The plan for a “say-on-pay” system is included in the company’s preliminary proxy statement, filed with Securities and Exchange Commission. Microsoft’s general counsel, Brad Smith, explained the reasoning for the “say on pay”: “Given the interest in executive pay, we think it makes sense to encourage more dialogue with our shareholders on our compensation approach. Our executive compensation program is designed to maximize shareholder value by attracting and retaining world-class leaders and aligning their financial rewards with the growth and success of the company.”

More infoPressPass

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