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Friday, March 2, 2012

"Say on Pay" Bites Janus' Weil

News summary by MFWire's editors

Dick Weil's pay dropped substantially last year, perhaps thanks to shareholder vote. Janus Capital Group revealed yesterday in a proxy filing that their CEO's compensation fell to $6.15 million in 2011, down from $20.34 million in 2010, and that new compensation guidelines will be put in place.

Reuters reported on the news and noted that the changes came after Janus lost a non-binding shareholder "Say on Pay" vote.

"We take our fiduciary responsibilities to our shareholders very seriously," Weil said in a separate filing discussing the changes.

Janus paid Weil a $10-million signing bonus in 2010. Yet even excluding that bonus, Weil's pay still fell 40 percent in 2011. 

Edited by: HFD


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