Economy & Finance

Prudential Financial shareholders approve 2016 executive pay

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Prudential Financial Inc shareholders on Tuesday approved the company’s compensation for executives and sided with directors in rejecting a proposal that would require an independent board chairman.

Shareholders voted at the annual shareholders meeting in Newark, New Jersey, to award Chairman and Chief Executive Officer John Strangfeld a total of $17.4 million in direct compensation, which includes his base salary as well as annual and long-term bonuses. Strangfeld’s compensation was largely unchanged from 2015.

(Reporting by Suzanne Barlyn- Editing by Peter Cooney)

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