ISS recommends shareholders vote against BlackRock CEO's pay proposal

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ISS recommends shareholders vote against BlackRock CEO's pay proposal
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The proxy advisor said Fink's pay package totaling roughly $27 million for the year is higher than the industry's median pay for CEOs. 'While the majority...

- Proxy advisory firm ISS on Monday recommended that shareholders vote against proposal to ratify BlackRock CEO Larry Fink 's 2023 compensation.

"While the majority of equity awards are based on clearly disclosed multi-year goals that appear reasonably rigorous, there are significant concerns regarding the process used to determine annual cash incentive awards," ISS said in a report. Assets at BlackRock hit a record $10.5 trillion in the first quarter and the world's largest asset manager posted a 36% jump in profit as rising global equity markets boosted its investment advisory and administration fees.

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