Guerillas in the Boardroom | Corporate Governance | Scoop.it

It didn’t garner much attention, but earlier this month, the chairman of a Fortune 500 company was kicked out of his job, and it wasn’t by management. Shareholders voted out Ray Irani, the chairman and former CEO of Occidental Petroleum, at the company’s annual meeting, with 76 percent of investors denying Irani the post. Irani had planned to retire in 2014, but criticism of his outsized compensation package—he averaged over $80 million in annual salary over the past decade—and questions about his using the board to attempt to replace his successor, CEO Stephen Chazen, led to an early demise.


Via Vicki Kossoff @ The Learning Factor