Catalyzing Change at a Chemical Company
This company was not a shareholder darling. In fact, shareholders had identified several pay-for-performance disconnects and clearly made their point with a 13% Say on Pay vote.
Farient was engaged to improve shareholder engagement and move the needle on the company’s Say on Pay vote. Our team began the engagement with a pay audit. We analyzed all aspects of the peer group, quantum, design, performance measures, and goals. Once the analysis was complete, Farient worked with the compensation committee to redesign all aspects of the executive pay plan and design and execute shareholder engagement efforts.
What a difference a year makes. The company was able to deliver a clear message both internally and externally around its pay programs. The net result: Investors rewarded the company with a 90+% Say on Pay vote.
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