Deere Shareholders Seeking To Limit Executive Pay

The Associated Press reports that Moline, IL-based Deere & Co.’s shareholders will have a chance to vote on two proposals recommending limits on executive pay at the company. Neither of the shareholder proposals that will be considered at Deere’s annual meeting in late February are binding. Instead, both measures would request Deere’s board to consider adding the limits if shareholders approve.

One measure would ask Deere to consider capping CEO pay to a level no more than three times the pay Deere’s other named executives receive. Another proposal would ask Deere to let shareholders hold an annual advisory vote on top employees’ compensation. Deere said they oppose both resolutions because they would hurt the company’s ability to attract and retain the best executives.