Salesforce CEO’s compensation plan rejected by shareholders

Salesforce investors rejected the company’s proposal to compensate its executives, going against the Board’s recommendation. This decision follows concerns from shareholder advisory firms regarding a second equity award granted to CEO Marc Benioff in January.

The vote, although advisory, underscores shareholder dissatisfaction with the company’s executive pay practices. According to a regulatory filing on Monday, the resolution received 339.3 million votes in favour and 404.8 million against at the annual meeting held on Thursday.

Salesforce’s Board, in the company’s proxy statement, acknowledged the importance of shareholder feedback, stating, “Our Compensation Committee, responsible for designing and administering our executive compensation programme, will consider the outcome of this vote in future decisions.”