Say on Pay,' Governance Measures Gain Shareholder Support

Efforts by CWA and supporters from other labor organizations and consumer groups are building support for resolutions to improve corporate governance. Recently, resolutions supported by CWA gained significant support at annual meetings of Verizon Communications, Windstream Corporation and Frontier Communications.

A CWA and IBEW-backed resolution at Verizon that would strengthen shareholders' ability to elect an individual to the Board not supported by the largest shareholders won 40 percent support. Another resolution that would require shareholder approval of excessive "Golden Coffin" payments to deceased senior executives gained 37 percent support. Members from CWA Locals 3372 and 3673 leafleted shareholders outside the meeting in Louisville, Ky.

At the Windstream meeting in Little Rock, Ark., a "say on pay" resolution, presented by CWA Telecommunications Vice President Jimmy Gurganus, gained 49.1 percent of shareholder support, up from last year's 43 percent support for a similar resolution. This week, a "say on pay" resolution sponsored by a CWA member, gained 48.36 percent support at the annual meeting of Frontier Communications in Stamford, Conn. Frontier management, which opposed the measure, failed to win a majority vote due to abstentions.