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J&J execs get pay raises, but only after bruising shareholder 'Vote No' campaign

NEW YORK, April 26 (Reuters) - Roughly 57% of investor votes cast backed healthcare company Johnson & Johnson’s executive pay for 2020, a low level of support for a proposal most shareholders usually rubberstamp.

The low support, not including abstentions, for the non-binding proposal comes after the Office of the Illinois State Treasurer urged other shareholders to vote “No” on the company’s pay practices, namely because J&J sets aside certain litigation costs when calculating executive compensation, including from the U.S. opioid epidemic.

Proxy advisors Glass Lewis and Institutional Shareholder Services Inc also recommended against J&J’s pay.

Reporting by Jessica DiNapoli

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