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Thread: XPO investors to vote on exec pay, independent chair after steep share drop

  1. #1
    Taking A Stand!!!

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    Default XPO investors to vote on exec pay, independent chair after steep share drop

    The vote took place yesterday so I am a day late posting this. Will update if I actually see any info.
    LOS ANGELES, May 15 (Reuters) - XPO Logistics Inc investors are set to vote on executive compensation, board oversight and sexual harassment prevention policies on Wednesday after a tough eight months for the warehousing and delivery company in which its shares have halved in value.

    The Connecticut-based company has twice lowered its 2019 profit forecast as it struggles to replace lost revenue, and is trying to contain investor concern over costly executive compensation.

    It is also managing the fallout from media reports about its alleged mistreatment of workers, including sexual harassment and discrimination against pregnant employees. XPO has said it reviewed the allegations and found them to be unsubstantiated and untrue.

    Its shares closed on Tuesday at $57.80, about half the all-time high of $116.26 hit in September.

    Investors will decide whether to ratify compensation for named executives under non-binding “say on pay” rules.
    https://www.reuters.com/article/xpo-...-idUSL2N22Q15W

  2. #2
    Taking A Stand!!!

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    Default Re: XPO investors to vote on exec pay, independent chair after steep share drop

    XPO Shareholders Vote Down Teamster Plan to Split CEO, Chairman Roles

    Another one of those surprises we see so much in the corporate and political word. Just kidding.....
    A union proposal to separate the CEO and chairman positions at XPO Logistics Inc. was defeated in a May 15 vote by the company’s shareholders, who instead extended the chairmanship of XPO’s current leader.

    The International Brotherhood of Teamsters, which has clashed with XPO Chairman and CEO Bradley Jacobs, charged in advance of the vote that shareholders had lost confidence in Jacobs’ leadership. However, in a Securities and Exchange Commission filing, the company said shareholders owning approximately 57.6 million shares voted in opposition, compared with those controlling approximately 13.4 million who voted in favor.
    “We’re pleased that all company proposals passed with overwhelming shareholder support,” XPO said in a statement released after the vote. The company argued that Jacobs has created significant shareholder value while holding both roles since 2011, and that separating the positions would impede the pace and effectiveness of corporate decision-making.
    https://www.ttnews.com/articles/xpo-...chairman-roles
    222lifer likes this.

 

 

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