US - The US$225bn CalPERS accused the Shaw Group board of approving "egregious" severance packages, and has rallied the top 5000 company shareholders to back a proposal to counter excessive shareholder compensation.
The CalPERS proposal would require shareholder ratification of any severance packages worth more than 2.99 times an officer’s salary and target bonus. CalPERS' criticism of Shaw Groups compensat...
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