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Proxy adviser ISS recommends vote ‘against’ executive pay at Alphabet
FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo
(Reuters) – Institutional Shareholder Services (ISS) has recommended shareholders of Google-parent Alphabet Inc to vote “against” the company’s proposed executive pay at its annual meet in June, according to a report seen by Reuters on Thursday.
“The compensation committee has demonstrated poor stewardship of pay programs as evidenced by recurring concerns of outsized awards that are not sufficiently performance-based,” ISS said in the report.
The proxy adviser has also recommended shareholders to withhold support for four directors – L. John Doerr, Alan Mulally, K. Ram Shiram and Robin Washington.
Alphabet did not immediately respond to a Reuters request for comment.
Reporting by Arunima Kumar in Bengaluru, Editing by Sherry Jacob-Phillips