Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Legg Mason Shareholder Fight Brews Over Fetting's Pay Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, July 14, 2011

A Legg Mason Shareholder Fight Brews Over Fetting's Pay

News summary by MFWire's editors

What will Legg Mason [see profile] shareholders say about chairman and CEO Mark Fetting's $5.9-million compensation deal? The Baltimore Sun's Hanah Cho reports that proxy guidance specialists Glass, Lewis & Co is calling for a rejection of Fetting's deal, while Institutional Shareholder Services supports a vote in favor.

"In light of the company's track record of overpaying its executives and failing to promote a long-term focus," Glass, Lewis wrote in a report, "we believe shareholders should vote against this proposal to signal their dissatisfaction with the company's executive pay practices."

In a statement to the paper, Legg responded that Fetting's pay is "justified" thanks to "improved results" and comparisons with competitors.

The results of the vote will be revealed on July 26 at Legg's annual meeting. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use