The global battle over CEO pay

[New Sancai Compilation First Release] A majority of Salesforce shareholders voted against the compensation plan for Chief Executive Marc Benioff and other top executives, according to a security document. Benioff will receive total compensation of $39.6 million in fiscal 2024, up from $29.9 million the previous year.

Here are other CEO compensation packages facing stiff competition:

Tesla: A Delaware judge invalidated Tesla CEO Elon Musk's $56 billion compensation package in January, calling it "unfathomable." Shareholders approved the plan in June despite opposition from some large institutional investors and proxy firms.

AstraZeneca: More than a third of AstraZeneca investors oppose its 2024 pay policy, which would see chief executive Pascal Soriot's pay rise to up to £18.9m . However, it won the support of the required majority.

3M: In May, 3M shareholders voted down annual compensation packages for certain top executives, including former CEO Mike Roman.

BlackRock: BlackRock's executive compensation, including that of Chief Executive Larry Fink, won weak support from shareholders, with about 42% voting against it.

Boohoo: Bosses at Britain's Boohoo Group gave up annual bonuses in May and scrapped plans to increase executive rewards after shareholder backlash.

BP: Former BP chief executive Bernard Looney has had his pay cut by more than $40 million in 2023 after he concluded he misled the board about personal relationships with colleagues.

Telecom Italia: Shareholders rejected Telecom Italia's 2023 pay policy after top investor Vivendi criticized the criteria for handing out bonuses to chief executive Pietro Labriola.

Intel: Intel shareholders rejected a compensation package for top executives in 2022 that included a pay package of up to $178.6 million to CEO Pat Gelsinger.

Rio Tinto: Rio Tinto shareholders have rejected the miner's 2021 top executive pay package, facing backlash over its destruction of ancient rock shelters in Western Australia the previous year.

McDonald's: Former CEO Steve Easterbrook agreed to return 2021 equity awards and cash compensation worth $105 million to settle a lawsuit over alleged lies about an extramarital affair.

GE: GE shareholders rejected a 2021 compensation package for top executives, which included a payout of up to $230 million to Chief Executive Larry Culp.

Morrisons: Investors in the British supermarket group overwhelmingly rejected its 2021 remuneration report.

Halliburton: More than half of Halliburton shareholders voted against its proposed 2021 executive compensation plan.

UniCredit: The Italian bank's boss Andrea Orcel narrowly avoided shareholder opposition to his 2021 pay package, after top investor BlackRock voted against it It received only 54% of the vote at the convention.

CBS: In 2021, CBS fired Leslie Moonves for cause and declined to offer a $120 million severance package amid allegations that the former CEO was involved in an incident before and after he joined the company Sexual harassment and assault occur.

Uber: Uber co-founder and CEO Travis Kalanick was forced to resign in 2017 amid a series of scandals that plagued the company, including sexual harassment allegations and a toxic workplace culture. Shareholders later sued the board, alleging it failed to properly supervise Kalanick and allowed the scandal to occur.

Equifax: After a massive data breach in 2017 that exposed the personal information of millions of customers, Equifax's CEO was heavily criticized for his handling of the crisis and his huge bonus. Shareholders filed suit alleging the board failed to properly supervise the CEO.

BP: BP slashed Chief Executive Bob Dudley's 2016 pay package by 40% following a wave of shareholder protests.

Viacom: A 2016 shareholder lawsuit alleges that Viacom and CBS Corp. executive chairman Sumner Redstone received millions of dollars in improper compensation despite "his Physically and mentally incapacitated".

Occidental Petroleum Corp.: Occidental Petroleum Corp. CEO Ray Petroleum Irani has been criticized for being overpaid, as his compensation increased 40% in 2009 to $31.4 million in 2011. Aim for a seat on the board of directors.

WorldCom: After an accounting scandal in 2002 that led to financial fraud, shareholders sued the company, accusing it of overpaying top executives, including its CEO.

(Compiled by: Wang Jimin)

(Editor: Jiang Qiming)

(Source of the article: Compiled and published by New Sancai)