Shareholders of Deere & Co. will get to vote on two proposals recommending limits on executive pay at the outdoor appliance maker. Neither of the shareholder proposals would be binding. The proposals ask that Deere's board consider adding the limits if shareholders approve.
The two measures will be considered at Deere's annual meeting on February 24.
One measure would ask Deere, which is based in the Moline, IL, to consider capping CEO pay to a level no more than three times the pay Deere's other named executives receive.
Another proposal would ask Deere to allow shareholders to hold an annual advisory vote on top employees' compensation.
Deere opposes both resolutions, saying they would hurt its ability to attract and retain the best executives.
(Source: Associated Press)
Back to Breaking News