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In Citigroup's case, about 55 percent of shareholders voted against Citigroup's executive compensation package.
Citigroup received a particularly public rebuke on Tuesday when its shareholders voted to reject the bank's executive compensation package at its annual shareholder meeting.
The influential proxy advisory service Institutional Shareholder Services had recommended that shareholders vote against Citigroup's executive compensation package because of the size and nature of the pay package for its chief executive, Vikram S. Pandit.
It is hard to judge the merits of a package without looking carefully at the details, he says, which is why he has little time for Mr Frank's proposal for shareholders to vote each year on the executive compensation package.
Also on Thursday, Walmart hit out at a proxy advisory company, Institutional Shareholder Services (ISS), which had urged shareholders to vote against its executive compensation package and to vote for an independent chairman.
At the most superficial level Mr. Fuld looks the villain — dark and prone to intense expression — but he refused to play one on TV, no matter how hard the committee, venting rage over every unjust executive compensation package ever written, provoked him.
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But shareholders overwhelmingly approved executive compensation packages.
During that time, executive compensation packages have become much more creative, not to mention outrageous.
Shareholders routinely endorse executive compensation packages for the previous year at their annual meetings.
She doesn't pull any punches in assigning blame, from bloated executive compensation packages to rampant deregulation of the financial system.
The firm is expected to announce on Wednesday that it has hired Steven G. Eckhaus, a specialist in executive compensation packages, as a partner.
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