Domino’s Board Faces Groundswell of Shareholder Discontent over CEO Pay and Compensation Committee Chair
CalSTRS, NYC Pension Funds, Ill. State Board of Investment, Among Other Leading Investors, Join CtW Investment Group in Calls for Reform
ANN ARBOR, MI, April 29, 2014 – The Board of Directors at Domino Pizza’s (NYSE: DPZ) faced a rising tide of shareholder discontent at today’s annual meeting. The CtW Investment Group joined with
leading investors in asking for the resignation of Compensation Chairman Andrew Balson and an overhaul of the company’s pay practices.
Over the past month, the CtW Investment Group has called for investors to oppose the reelection of Balson—a former Bain Capital executive—and to strike down management’s ‘say-on-pay’ proposal. The
group notes that CEO Doyle’s $43 million in 3-year realizable pay was bloated to three times the median pay package of his peers and that the company is suffering from a potentially risky focus on short-term performance.
CTW INVESTMENT GROUP WELCOMES LEADING PROXY ADVISORY FIRMS’ RECOMMENDATION AGAINST DOMINIO’S PIZZA’S BALSON OVER CEO PAY
Recommendation Follows CtW Investment Group’s Opposition to Andrew Balson and “Say on Pay”
WASHINGTON, D.C.–Leading independent proxy advisors, Institutional Shareholder Services (ISS) and Glass Lewis, are opposing the re-election of Andrew Balson, the Chairman of the Compensation
Committee at Domino’s Pizza, Inc. (NYSE:DPZ), because of concerns over CEO Patrick Doyles’ pay. Domino’s will hold its annual shareholder meeting in Ann Arbor, Michigan on April 29th. The recommendation comes two weeks after the CtW Investment Group wrote to fellow investors calling on them to oppose Balson and Domino’s “Say-on-Pay” given the company’s egregious equity grants and
the excessive and potentially risky focus on short-term performance in the company’s pay plans.