Bombardier Major Shareholders Vote Against Pay Practices
BCI: "the board's overall independence level does not meet our guidelines."
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Major Bombardier Inc. shareholder and supporter Caisse de dépôt et placement du Québec is voting against the company's executive pay practices at its coming shareholder meeting.
It's one of a number of major North American pension plans that intend to rebuff Bombardier's compensation program. Some, including the Caisse, have grown sufficiently discontented to oppose reappointing directors to the company's board.
BCI is supplementing its say-on-pay "no" vote by withholding votes from five directors, including all four non-independent directors, as "the board's overall independence level does not meet our guidelines."...
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