Barclays, Northern, State Street and Vanguard Top List of Mutual Funds Enabling Excessive CEO Pay

Washington, DC ― In a new report, “Compensation Complicity: Mutual Fund Proxy Voting and the Overpaid American CEO,” the American Federation of State, County and Municipal Employees (AFSCME), The Corporate Library and Shareowners.org analyzed mutual fund voting patterns on compensation issues in 2009. The authors found that mutual funds voted in favor of management proposals on changes to executive pay policies at a rate of 84 percent, and ratified executive pay packages at a rate of 77 percent …

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