Teamsters push for independent FedEx chairman

Discussion in 'The Latest FedEx Headlines' started by cheryl, Sep 11, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    Teamsters push for independent FedEx chairman - Reuters

    In a letter to large FedEx institutional investors, the Teamsters union said on Monday they are seeking support for their proposal for independent board leadership at the company's annual meeting on Sept. 24.

    "Having Smith as CEO and chairman of the board has lead to excessive executive pay and poor performance over the long term for investors," hall, general secretary-treasurer of the International Brotherhood of Teamsters, said in a statement.

    About 36 percent of votes cast backed the proposal for governance reform last year - 42 percent if excluding the shares held by CEO Smith and the Smith family - up from roughly 26 percent when it was first proposed in 2007, the Teamsters letter said.
     
  2. cheryl

    cheryl I started this. Staff Member