Shareholders reject bid to link Google diversity to exec pay

Shareholders reject bid to link Google diversity to exec pay
In this Feb. 14, 2018, file photo the logo for Alphabet appears on a screen at the Nasdaq MarketSite in New York. Google parent Alphabet Inc. has rejected several shareholder proposals aimed at linked executive pay to diversity goals, being more open about its lobbying expenses, narrowing the gender pay gap, and weakening the grip founders Larry Page and Sergey Brin have on company voting stock. (AP Photo/Richard Drew, File)

Shareholders of Google parent Alphabet Inc. have rejected several proposals aimed at linking executive pay to diversity goals, being more open about lobbying, narrowing the gender-pay gap, and weakening the grip founders Larry Page and Sergey Brin have on company voting stock.

The rejection was not a surprise given the company had declared itself opposed to the proposals—in many cases because it said it was addressing the broader issues in other ways—and because Page and Brin control 51 percent of the voting power.

But the proposals reflected the increasing concern about the search giant's massive influence on technology and impact on society. Some Google employees came out in favor of the diversity proposal, including Irene Knapp, a Google engineer, who read a statement supporting it.


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Citation: Shareholders reject bid to link Google diversity to exec pay (2018, June 7) retrieved 11 December 2019 from https://phys.org/news/2018-06-shareholders-link-google-diversity-exec.html
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