Morgan Stanley's pay plan approved by shareholders

Morgan Stanley shareholders approved the company’s pay plan for executives including CEO James Gorman.

Bloomberg News reports that the advisory vote on compensation passed with 89% in favour according to preliminary results, Corporate Secretary Martin Cohen said Tuesday at the firm’s annual meeting in Purchase, New York.

All directors were elected with at least 97% of the total, Cohen said. The meeting lasted less than 30 minutes and there were no questions from shareholders.

The compensation committee deemed Gorman 'as exceeding expectations' in 2014 and found the firm’s performance and shareholder returns 'strong, with room for continued progress', the company said in its proxy statement. 

To access the complete Bloomberg News article hit the link below:

Morgan Stanley Investors Approve Executive-Pay Plan in Vote

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