US: PepsiCo shareholders to vote on exec pay

By just-drinks.com editorial team | 24 March 2010

PepsiCo 's board of directors has approved an advisory shareholder vote on executive compensation that will first occur at the company's annual meeting in 2011.

Under the plan, PepsiCo's shareholders will be able to cast an advisory vote on the overall executive compensation policies and procedures employed by the compensation committee for PepsiCo's named executive officers.

Hye-Won Choi, head of corporate governance for the non-profit financial services group TIAA-CREF, said: "We applaud PepsiCo for enabling investors to provide feedback on its compensation programs through an advisory vote, which we feel will increase dialogue and further align the long-term interests of the company and its shareholders. This further strengthens PepsiCo's leadership position in corporate governance."

Sectors: Soft drinks, Water

Companies: PepsiCo