Citigroup shareholders have voted against giving top executives a bigger pay deal in a rare show of investor discontent.
The package, which had increased chief executive Vikram Pandit’s pay to $15m (£9m), was backed by just 45% of shareholders.
Citigroup’s board said it will meet with shareholders to discuss what it called a “serious matter”.
High executive pay has come into focus after the global financial crisis.
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Read more at www.bbc.co.uk/news link to original article
4/20/2012
BBC News – Citigroup Investors Reject Bigger Executive Pay Deal – 18 April 2012
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