“Disney Rebuffed Over Pay For CEO,” The Wall Street Journal, March 9, 2018 B1. Shareholders refuse to endorse Chairman’s new pay package.
This is really quite large. Shareholders invest their money and elect a Board of Directors to manage the company. Normally, shareholders of a large public company have little say in what the Board decides to pay the managers who actually run the company. Or really any influence at all over anything. If they like it, they stay. If not, they sell their shares.
So who is really governing Disney? The shareholder vote is not binding, but does send a message to the directors.
What is governance?