Lucent retirees rebel

Lucent retirees rebel
The Lucent Retirees Organization recently led a rebellion against Lucent' s Board of Directors, and was joined by other shareholders to approve measures designed to tighten up the performance requirements for executive pay, and reduce the incentive pay of Lucent' s top management. An approved proxy said that 75% of executive compensation needs to be linked to performance, while another excludes the use of pension credit accounting in setting incentive executive pay. What will be the real impact of the vote is not clear, but it is sound that compensation is linked to performance. Some other large companies should be well inspired to follow the same way.