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Rating:Amvescap Pay Package Approved by Slim Majority Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 28, 2006

Amvescap Pay Package Approved by Slim Majority

by: Marie Glancy

Media attention and exhortations from a shareholder activist group influenced Amvescap investors to question the firm's proposed executive pay package, it appears -- but the package squeaked by nonetheless.

At the company's annual meeting Thursday, shareholders approved a combined pay out of over $20 million to outgoing CEO Charles Brady and new CEO Martin Flanagan by a vote of 51.59 percent to 48.41 percent.

Nine other resolutions presented were not remotely contentious, with most receiving approval from over 99 percent of votes cast.  

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