Colgate-Palmolive board decided to hold advisory regular sharehold votes on executive pay
By APFriday, February 26, 2010
Colgate-Palmolive OKs advisory vote on exec pay
NEW YORK — Toothpaste and soap maker Colgate-Palmolive Co. said Friday its board has decided to hold a nonbinding shareholder vote on its executives’ pay.
The vote would be held at its annual shareholders meeting on May 7.
The board now plans to seek such an advisory vote every other year, in keeping with its focus on rewarding long-term performance measured over several years at a time.
The company also said such votes may soon be required by law.
Shares fell 17 cents to close at $82.94 on Friday.
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