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Winning over proxy voters

May 12, 2014 - Pensions and Investments

The Coca-Cola Co. equity compensation plan for executives won the approval of 83% of the shares voted at its recent annual meeting, but left the company with an ambiguous mandate. Some major institutional investors that supported the plan might have reconsidered had they known other pension funds opposed it and known Warren Buffet thought the plan was "quite excessive."

The episode should have taught institutional investors a valuable lesson: They might well have a better chance of winning...