Reuters exclusively reports FedEx faces labor union challenge over billionaire CEO's pay - Reuters News Agency
Business & Finance

Reuters exclusively reports FedEx faces labor union challenge over billionaire CEO’s pay

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.

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
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