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Pay deals at health firm criticised

24th April 2007

UK-based pension fund manager Hermes plans to bring a resolution to an annual meeting of UnitedHealth Group of the United States next month, in an attempt to limit massive pay awards to top executives.

UnitedHealth has already been hit by a stock options backdating scandal, and Hermes is part of a wider campaign to give shareholders the right to vote on executive pay awards, even if the decision isn't binding on the board.

UnitedHealth former chairman William McGuire was paid US$8.7 million last year.

 

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Article Information

Title: Pay deals at health firm criticised
Author: Luisetta Mudie
Article Id: 2653
Date Added: 24th Apr 2007

Sources

The Financial Times

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