General Gaming EA shareholders say no to massive proposed raises for executives

[Jason]

Proposal would have seen year-to-year increases of over 100% for some execs.

[Commissar SFLUFAN]

Quote

An assortment of investor groups rallied against EA's proposed compensation plan ahead of the vote, including influential proxy vote advisors Institutional Shareholder Services and union-affiliated CtW Investment Group. Public employee retirement funds in New York and California followed those groups' lead in voting against the proposal, helping lead to its defeat.

 

"Shareholders issued a resounding rebuke of Electronic Arts’ deeply flawed executive pay practices that does not incentivize executives to create long-term value," CtW Executive Director Dieter Waizenegger said in a statement. "This vote is a clarion call for the board to stop piling awards on top of awards for top executives and make sure that the company develops a pay philosophy that is focused on talent development and retention throughout all levels of the company."

 

If there's one thing that "activist investors" are good for, it's reining in the obscenity that is executive pay.

[Brian]

Though the board could approve it anyway so I am sure this will go through 

[Commissar SFLUFAN]

2 minutes ago, ManUtdRedDevils said:

Though the board could approve it anyway so I am sure this will go through 

At least it puts the board "on notice" to a certain extent.

[silentbob]

Here I thought EA was done with the extra pay content bullshit

[Brick]

Ah yes extra pay for the already millionaire and billionaire execs, while the employees well below the executive line are probably struggling as is, especially during a pandemic. 

[gamer.tv]

2 hours ago, Brick said:

Ah yes extra pay for the already millionaire and billionaire execs, while the employees well below the executive line are probably struggling as is, especially during a pandemic. 

I can’t help but agree. I’m sure I would feel differently if I was a large business owner, but the fact that heads of company earn millions and the workforce that prop them up may be living pay check to pay check is criminal.