UMG Investors Urged to ‘Disapprove' of Lucian Grainge's 2023 Pay [Yahoo! Finance]
Cumulus Media Inc. - Class A (CMLS)
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Source: Yahoo! Finance
their disapproval of a UMG compensation report that details CEO Lucian Grainge ‘s 2023 pay package, which included a one-time $100 million stock and options award, when it's put to an advisory vote at UMG's annual meeting on May 16. It's the second year in a row that ISS and Glass Lewis have criticized Grainge's compensation package –with ISS calling it “excessive” and Glass Lewis saying it has “severe reservations” about UMG's remuneration report – and it could stir opposition among investors, many of whom expressed reservations about payouts at last year's annual meeting. More from Billboard Read Lucian Grainge's Memo on UMG-TikTok Deal: 'Entire Music Ecosystem' Will Benefit Universal and Def Jam Expand Efforts in French-Speaking Africa Hits by Ariana Grande, Beyonce & More Remain on TikTok Despite UMG Ban - And Songwriters Feel It Most UMG did not respond to a request for comment. While investor advisory votes are non-binding and Grainge and other UMG executives are e
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