Reuters exclusively reported that the Teamsters labor union said FedEx Corp shareholders should reject founder and CEO Fred Smith’s $54 million pay package because the logistics company gave him stock options after scrapping a cash bonus in the wake of the COVID-19 pandemic, only to reinstate it later. Smith, whose net worth is pegged by Forbes at $5.8 billion, was given a special option award “for motivation and retention purposes” in June 2020 after FedEx canceled a $3.4 million cash bonus for him, citing uncertainty around the COVID-19 pandemic.
Business & Finance
Reuters exclusively reports FedEx faces labor union challenge over billionaire CEO’s pay
03 September 2021, 1:33 pm 1 minute
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: EquitiesGovernment & Public Services
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story