The Columbus Dispatch reports that “Abercrombie & Fitch shareholders expressed their displeasure with the company’s recent stock tumble by voting down a proposal on executive pay” at Thursday’s annual meeting. The proposal provided the company’s shareholders with the opportunity to say whether or not they approve of management compensation. However, the non-binding measure does not require Abercrombie & Fitch’s board of directors to cut salaries. “Possible changes to pay packages were not discussed during the meeting,” Dispatch sources note.
Abercrombie shareholders say ‘no’ on pay
Abercrombie & Fitch shareholders voted against the company’s executive compensation plan at Thursday’s annual meeting.
June 15, 2012