(Reuters) – A majority of Salesforce (NYSE:) shareholders voted in opposition to a compensation plan for its CEO Marc Benioff and different high executives, in response to a safety submitting on Monday.
The decision to approve the compensation obtained 339.3 million votes in favor versus 404.8 million in opposition to, the submitting mentioned.
For the 2024 monetary yr, Benioff obtained $39.6 million in whole compensation, up from $29.9 million within the prior yr.
In Could 29, the corporate forecast second-quarter revenue and income under Wall Road estimates on account of weak consumer spending on its cloud and enterprise enterprise merchandise, which despatched its shares down greater than 16% after the bell.
Advisory companies Glass Lewis and Institutional Shareholder Providers (ISS) each really useful that traders vote down the measure, in response to a CNBC report.
Glass Lewis and ISS didn’t instantly reply to Reuters’ requests for remark.