After Roundup debacle, Bayer's shareholders vote against management pay scheme
As Bayer looks to settle litigation surrounding claims that its weedkiller Roundup causes cancer, shareholders voted on Friday to reprimand the management team for its pay scheme, saying that it didn’t represent the burden of the litigation.
Nearly 75% of shareholders voted against the approval of the executive board’s compensation. The vote came after advisory firm Glass Lewis wrote that it had problems with how Bayer adjusted a management payout that relies on group cash flow to compensate for the money lost to litigation. That’s a stark difference from last year, when the group got an 82% approval rate for its work in 2021.
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