Statements from Organizations in Support of H.R. 4291 

 

 

AFL-CIO: "The Protection Against Executive Compensation Abuse Act will require better disclosure of executive pay to shareholders and the public. More importantly, this bill will require companies to disclose the performance measures used to set executive pay, and will require executives to return their compensation if these benchmarks are not met. Lastly, this bill will require shareholder approval of executive pay policies, as well as golden parachutes."  Click here to read a statement by the AFL-CIO in support of "The Protection Against Executive Compensation Abuse Act".

The Corporate Library: "These pay packages are a failure of capitalism and the free market, and I applaud Congressman Frank's proposal to give the power back to the people who provide the capital by improving disclosure and giving them a chance to reject proposals that undermine the company's sustainability."  Click here to read a statement by The Corporate Library in support of "The Protection Against Executive Compensation Abuse Act".

California Sate Teachers' Board: "We have been working for decades to improve transparency at the board level and have fought tirelessly to make our voice as shareholders heard. While we have made great strides in engaging companies directly on these issues, these bills lend a strong and consistent legal framework."  Click here to read a statement by the California State Teachers' Board in support of "The Protection Against Executive Compensation Abuse Act".

Council of Institutional Investors: "Pay decisions are one of the most direct ways for shareowners to assess the performance of the board. To properly perform this assessment, shareowners must have comprehensive, accurate and clear information detailing long- and short-term compensation to executives. The provisions in the Protection Against Executive Compensation Abuse Act bill that call for full disclosure of information about all compensation paid to executives and the performance measures tied to compensation would assist shareowners in this effort."  Click here to read a statement by the Council of Institutional Investors about the "The Protection Against Executive Compensation Abuse Act".