Hewlett-Packard Investors Vote Against Executive Pay Packages
March 23, 2011, 2:52 PM EDTBy Aaron Ricadela
March 23 (Bloomberg) -- Hewlett-Packard Co. investors, gathered at an annual meeting today, voted against proposed compensation packages for the computer maker’s top executives.
At the same time, shareholders ratified a slate of 13 directors.
The vote against the pay packages may signal concern about the agenda of Chief Executive Officer Leo Apotheker and Chairman Ray Lane, who took the helm on Nov. 1. Hewlett-Packard supported both measures, while Institutional Shareholder Services Inc., an adviser to investors on corporate governance matters, recommended that clients reject them.
--Editors: Jillian Ward, Tom Giles
To contact the reporter on this story: Aaron Ricadela in San Francisco at aricadela@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
