CWA, IBEW Back New ‘Golden Coffin,’ Corporate Governance Rules at Verizon

by Mike Hall, May 7, 2009

If I were my own boss, I might not be too critical of my performance or stingy with my pay and benefits. But in the corporate world, if you are the CEO and the chairman of the board, you’re pretty much your own boss. 

Today in Louisville, Ky., Verizon shareholders, including members of the Communications Workers of America (CWA) and Electrical Workers (IBEW), are voting on three corporate governance proposals that would:

• Separate the role of chairman and CEO;
• Allow shareholders to pool their votes in director elections; and
• Allow shareholders to decide if an executive deserves a “golden coffin.” 

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