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Apple Shareholders Ask for a Say on Executive Pay

Posted on March 6, 2008 | in Labor News | by

Patrick O’Meara, corporate finance specialist in the AFL-CIO Office of Investment, describes a victory for Apple shareholders seeking to restrain excessive CEO pay.

At Apple’s annual meeting in California this week, shareholders showed they want their company to be as cutting edge as some of the products it makes when they approved a proposal that seeks to give them a say on executive pay.

The proposal, submitted by the AFL-CIO Reserve Fund, asks the board of directors to put in place the kind of checks and balances that a well-governed company needs when it comes to executive compensation.

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