Morgan Stanley shareholders reject compensation plan
-
- April
- 8
Shareholders at the annual meeting of Morgan Stanley in Purchase yesterday rejected a proposal that called for a non-binding ratification vote by stockholders on executive pay.
About 63.2 percent of the shares represented and voting at the meeting voted against the proposal, or abstained, Morgan Stanley said. It was the second year in a row that the proposal had been rejected. It was put up by the pension plan of the American Federation of State, County and Municipal Employees.
A second resolution by Trillium Asset Management of Boston that called for Morgan Stanley to produce an annual report on how the company’s investment policies could address human rights needs was withdrawn.
A spokesman for the resolution expressed satisfaction at the meeting with actions that the investment bank had agreed to take addressing human rights.
This entry was posted
on Tuesday, April 8th, 2008 at 5:16 pm by Jerry Gleeson.
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