BlackRock Faces Investor Dissent Over Executive Pay
BlackRock faced significant dissent at its annual meeting, with only 67% of shareholders backing executive pay. This drop in support follows last year's 59% approval. Proxy adviser ISS recommended voting against the compensation package, citing unresolved investor concerns over CEO Larry Fink's $30.8 million pay in 2024.
- Country:
- United States
BlackRock, the world's leading asset manager, faced notable resistance from its shareholders regarding executive compensation at its recent annual meeting. Only 67% of votes were in favor of the pay packages, a marked decline in support.
The lower approval rate follows an even lower 59% backing from 2023, pointing to growing investor discontent. Proxy adviser Institutional Shareholder Services (ISS) had advised stakeholders to oppose the high compensation of executives, including a $30.8 million pay for CEO Larry Fink in the current year.
ISS highlighted that concerns from investors regarding executive pay were not adequately addressed by BlackRock, prompting their recommendation against the proposed packages.
(With inputs from agencies.)
Advertisement
ALSO READ
Escalating Tensions: North Korea's Missile Launch and Alliance with Russia
Tensions Escalate: North Korea's Missile Launch Alarming Region
North Korea Tests Export-Ready Missiles: A Deep Dive
Arsenal's Trophy Drought: Near Misses and Missed Opportunities
Tensions Flare in South Asia After Missile Strikes
Google News