Aflac Inc.’s board has approved a resolution that moves theadoption of Say on Pay up from 2009 to 2008. The resolution will give the company’s shareholders an opportunity tocast a non-binding advisory vote on the company’s pay-for-performancecompensation of the top five named executive officers.
In February, the company became the first in the
After evaluating Aflac’s compensation disclosures in the2007 proxy statement, though, the board decided that two years of comparablecompensation data would be adequate for shareholders to make an informed vote,prompting the board to move the timing of the first say-on-pay up one year.
“We believe that our shareholders have embraced expanded disclosureon executive compensation and it gives them the information they need to makean informed decision n as they weigh pay versus performance,” Dan Amos, Aflacchairman and CEO, said in a statement. “Aflachas a long history of generating strong returns for its shareholders and weremain committed to being transparent and responsive to our owners.”