Shareholder advisers slam executive pay
By Jeff Smith
Rocky Mountain News
Monday, May 19, 2008
Shareholder advisory firms Glass Lewis and RiskMetrics, formerly
ISS, both criticize Qwest Communications for overly generous
executive pay and are supporting two shareholder proposals,
including one to split the chairman and chief executive jobs.
Their proxy reports come in advance of the telco's annual
shareholders meeting Thursday in
Proxy Governance, a third shareholder advisory firm, sides with
Qwest's board in recommending against shareholder proposals.
But it criticizes the telco's executive pay as being "out of
line," and recommends against the re-election of four
compensation committee members, including
Denver's Linda Alvarado.
Qwest defends its executive compensation as being in line with a
peer group of major telcos.