Summary
This 8-K filing from Marsh & McLennan Companies, Inc. details the results of their Annual Meeting of Stockholders held on May 18, 2017. A significant majority of outstanding shares were represented, indicating strong shareholder engagement. The primary outcomes include the overwhelming election of all twelve director nominees to one-year terms and the approval of the company's executive compensation in a non-binding "say-on-pay" vote. Furthermore, stockholders recommended holding this advisory vote on executive compensation annually, a recommendation the company has accepted. The independent auditor, Deloitte & Touche LLP, was also ratified for the upcoming fiscal year.
Key Highlights
- 1All 12 director nominees were overwhelmingly elected for a one-year term, indicating strong board support.
- 2Shareholders approved the executive compensation of named executive officers through a non-binding "say-on-pay" vote.
- 3A significant majority of shareholders recommended that the "say-on-pay" vote be held annually, and the company has agreed to this frequency.
- 4Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2017.
- 5A stockholder proposal regarding the Holy Land Principles was not approved by a substantial margin.