Vanguard, BlackRock Seen Seldom Challenging CEO Pay Plans
- Fund giants vote with boards 97% of the time, report says
- Who's protecting investors, asks shareholder advocacy group
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When it comes to CEO pay decisions, Vanguard Group and BlackRock Inc. almost always side with corporate boards.
The mutual fund giants, which together manage $7.6 trillion, voted with directors on executive pay plans 97 percent of the time last year, according to a report issued Wednesday by shareholder advocacy group As You Sow. The data is based on a tally of 100 companies whose chief executives received $9.7 million or more in annual pay.