How BlackRock's CEO Gets Paid Is Anyone's Guess
The asset manager is under fire a second year running for poor transparency over executive pay. You can see why.
Larry Fink, chief executive officer of BlackRock Inc.
Photographer: Michael M. Santiago/Getty Images North AmericaBlackRock Inc.’s annual proxy statement devotes more than 50 pages to executive pay. How many of those are useful in understanding why Chief Executive Officer Larry Fink was compensated to the tune of $37 million for 2024? Not enough.
The asset manager’s latest remuneration report has heightened significance because BlackRock’s shareholders delivered a rare and large protest vote against its pay framework at last year’s annual meeting. That followed recommendations from the two main proxy advisory firms, Institutional Shareholder Services Inc. and Glass Lewis & Co., to withhold support for the so-called say-on-pay motion.