Freeport-McMoRan Investors Vote Against Executive Compensation

Freeport-McMoRan Copper & Gold Inc. (FCX) shareholders voted against approving the compensation of executives at the world’s largest publicly traded copper producer.

There were 172 million votes cast at Freeport’s July 16 annual shareholders meeting to approve the compensation and 413 million votes were against, the Phoenix-based company said today in a filing.

An investor proposal requiring Freeport’s chairman to be an independent director was approved, as was a proposal allowing holders of 15 percent of Freeport shares to call a special investor meeting.

To contact the reporter on this story: Liezel Hill in Toronto at lhill30@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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