executive compensation News

Amid Expense Allegations, Argo Shareholders Elect Board, Barely Approve Executive Pay

Argo Group International Holdings ended up having a fairly routine annual meeting on May 24, after spending months fending off accusations of excessive spending and other abuses from an activist shareholder. One exception: A tight vote on executive compensation. The …

Allianz Wins Shareholder Approval for New Executive Pay Policy

Allianz SE won shareholder approval for its new policy on management-board pay, avoiding the sort of investor backlash seen at some European firms in recent years. The German insurer proposed increasing the importance of fixed salary and long-term incentives in …

State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy

Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31, 2021. LaRocco has been …

Finance Execs Should Slash Their Pay to Win Back Trust in Business: Lloyd’s CEO

Finance executives should consider slashing their own paychecks as the U.K. works to exit the European Union in order to win back the trust of people who have lost faith in large businesses, according to Lloyd’s of London Chief Executive …

Asian, LatAm Financial Wage Rises Set to Outpace North America, Europe

Financial services salaries are set to rise by 4.3 percent in both Asia and Latin America this year, almost double the average increase forecast for North America and Europe, research published on Monday showed. A survey by consulting firm Mercer …

Companies Must Report CEO-to-Worker Pay Ratio Under New SEC Rule

The U.S. Securities and Exchange Commission approved a rule Wednesday requiring companies to reveal the pay gap between the chief executive officer and their typical worker, handing a new weapon to groups protesting rising income inequality. The commission voted 3 …

Companies Must Disclose CEO-to-Worker Pay Ratios Under SEC Proposal

Public companies would be required to disclose how much more their chief executives are paid than rank-and-file workers under a rule to be proposed next month by U.S. securities regulators, according to two people familiar with the matter. The Securities …

AIG Adopts Clawback Policy, Employee Incentive Plans

American International Group, the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in case of mistakes or wrongdoing. In a regulatory filing, AIG said its …

Buffett’s Salary Unchanged After 25 Years

Warren Buffett’s total compensation declined 14 percent last year to $423,923 as Berkshire Hathaway spent less on his security, but his salary remained unchanged at $100,000. Buffett’s salary for leading Berkshire as chairman and chief executive hasn’t changed in more …

Mass. Seeks Executive Pay Data From Insurers Domiciled in State

The Massachusetts Division of Insurance is undertaking a detailed examination of executive compensation at insurance carriers domiciled in the state.The regulators said last week they have sent letters to some 88 insurers, requesting information on how the companies determine compensations. …