NEW YORK Proxy adviser Glass Lewis on Tuesday recommended that BlackRock Inc (BLK.N) shareholders vote down a non-binding measure on executive compensation, saying CEO Larry Fink was paid “significantly more than the median CEO compensation” of the world’s largest asset manager’s peers.
BlackRock cut total compensation for Fink by 1 percent to $25.5 million in 2016, according to a filing last month based on a calculation of his pay in line with U.S. Securities and Exchange Commission guidelines. “The Company has been deficient in aligning pay with performance,” Glass Lewis said in the report.
(Reporting by Trevor Hunnicutt; Editing by Michael Perry)
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