ENOUGH: AT&T Shareholders Vote Against Excessive Executive Compensation
Posted on 05/01/2021
Shareholders of near-U.S.-telecom monopoly AT&T Inc. voted against the company’s executive officer compensation plan. Only 49% of the votes were in favor of AT&T’s executive compensation plan. This is according to preliminary voting results from the AT&T’s annual meeting.
In 2020, AT&T awarded a US$ 52.2 million pay package to Jason Kilar, the head of its WarnerMedia division (Warner Media, LLC), with US$ 49 million taking the form of stock awards vesting over a four-year period. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content in various physical and digital formats globally. Jason Kilar joined AT&T in May 2020 and was the best-paid AT&T executive for 2020. In comparison, AT&T Chief Executive Officer John Stankey received US$ 21 million in reported compensation. Kilar is the founding CEO of Hulu.
Michael McKiernan
The Canada Pension Plan Investment Board has doubled down on its Korea Income Joint Venture with asset manager ESR Cayman Limited, as the pair collectively boosted their investment by US$500 million, bringing the total equity allocation to US$1 billion.
According to a news release, the CPPIB contributed the bulk of the new capital to the venture, which was formed in 2018 to focus on logistics assets near major cities in South Korea.
“Korea is already one of the most developed e-commerce markets in Asia and the pandemic has accelerated the growth in the past year, further fuelling the demand for quality logistics facilities,” said Jimmy Phua, the CPPIB’s head of Asia real estate, in a statement.
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