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Thread: Teamsters Join With XPO Workers to Call Out Company’s Executive Pay Practices

  1. #1
    Taking A Stand!!!

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    Default Teamsters Join With XPO Workers to Call Out Company’s Executive Pay Practices

    (GREENWICH, Conn.) – XPO Logistics, Inc. board members faced a growing tide of discontent at their annual shareholder meeting today led by the company’s own workers, the Teamsters and European union leaders who called out the global logistics giant for its excessive executive pay practices.

    Much of the ire was directed at Bradley Jacobs, XPO’s chief executive officer, who was in attendance at the meeting held at the company’s headquarters here. Jacobs was on the receiving end of a recent $20 million “mega-grant,” a pay giveaway that caused leading independent proxy advisor Institutional Shareholders Services (ISS) to recently issue its opposition to XPO’s advisory vote on executive pay, the so-called “Say-on-Pay” vote, that was voted on today.

    “It is time for XPO CEO Bradley Jacobs to explain to company workers why he is entitled to a huge payout while he cuts the health care and retirement benefits of workers who are making this company so successful,” said Monica Abraham, a quality control inspector for XPO in North Haven, Conn. who spoke at the shareholder meeting. “Workers shouldn’t be punished while Jacobs gets rich off our backs!”
    https://teamster.org/news/2017/05/te...-pay-practices
    fxstc07, BilyWamBam and 222lifer like this.

  2. #2
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
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    ABF
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    Default Re: Teamsters Join With XPO Workers to Call Out Company’s Executive Pay Practices

    XPO Shareholders Revolt Against Overweight CEO Pay

    (WASHINGTON) – XPO Logistics, Inc. (NYSE:XPO) shareholders delivered one of the sharpest rebukes of CEO pay so far this proxy year when a near-majority of outside shareholders opposed the company’s “say-on-pay” measure following a $20 million mega-equity grant to CEO Bradley Jacobs.

    Recently announced voting results from XPO’s annual shareholder meeting held last week revealed only about 62 percent of votes cast approved of XPO’s executive pay practices and just 51 percent excluding Jacobs’ and other insiders ownership of XPO stock.

    “It is a farce that the company’s founder and largest shareholder requires a three-fold increase in his compensation to stick around and work towards delivering shareholder value for the long haul,” said Teamster General Secretary-Treasurer Ken Hall. “The board’s credibility is now at stake. It needs to demonstrate to shareholders that it treats its oversight responsibilities as more than a rubber stamp for Jacobs’ aggressive empire building.”
    https://teamster.org/news/2017/05/xp...weight-ceo-pay
    222lifer likes this.

 

 

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