executive pay - shareholders call time
WORKERS, JUNE 2003 ISSUE
GlaxoSmithKline shareholders have voted against the excessive executive pay plans at the company's AGM.
Shareholders and trade unions have become much more active this year as executives continue to take huge salaries and payoffs even when profits drop or pensions funds are cut.
The TUC has also called for votes on this issue at Corus, Shell and Reuters, and will be extending this to other companies now this tactic has paid off at GSK.