Shareholders Ratify Compensation


    Ford Motor Co. shareholders voted 75.2 per cent of shares to ratify the compensation package of Alan Mulally, president and CEO, and other senior executives at the company despite opposition from CalSTRS, the Canada Pension Plan Investment Board, and the Florida State Board of Administration. The voting level for the non-binding say-on-pay proposal was, however, far below the average 92 per cent in support at other companies calculated by Towers Watson through the end of April. Shareholders also approved by 93.6 per cent a stock compensation plan for non-employee directors, despite the opposition by the three pension funds. The CPPIB holds 156,010 Ford shares.