Heinz Shareholders Reject Golden Parachute, But Sale Will Go On
Say on Parachute Payments: 
While well intentioned, it doesn’t seem like our lawmakers fully thought through the small portion of the Dodd-Frank Act that deals with the advisory vote for Say on Parachute Payments.
Exhibit A: Heinz Shareholders recently rejected the proposed Parachute Payments to the executives once the company is sold to a private equity firm. However, the failed Say on Parachute Payment vote doesn’t really matter as it is just an advisory vote and is non-binding. It will not stop the transaction from closing. This portion of the Dodd-Frank Act might as well have just asked shareholders to post a like or don’t like on their favorite social networking page.
Click here for the full article in the Pittsburgh Post Gazette.
written by Chris Crawford
