The Magazine of Corporate Responsibility

Tag Archive for ‘Ethos Foundation’

Novartis Pay Plan Encounters Strong Shareholder Opposition

Nearly 39 percent of Novartis shares were voted against the pharmaceutical giant’s executive compensation plan. Shareholder critics had expressed particular concern over the size and structure of payouts for Novartis Chairman Daniel Vasella, who has in recent years been awarded a package with an estimated market value of about $21 million annually.

Development Banks and Investors Press Anti-Corruption Efforts

The development banks agreed that companies debarred for corruption by any one of them may be sanctioned for the same misconduct by other participating banks. Separately, an investor coalition representing firms with $1.7 trillion in assets under management has asked 21 major companies to improve disclosure of bribery and corruption risks and avoidance measures.