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UMG CEO Lucian Grainge’s $128M 2023 Pay Package Approved by Shareholders
Universal Music's CEO's $128M pay package was approved by shareholders. Lucian Grainge's pay package was approved during the company's annual meeting.
Anytime a significant percentage of investors expresses disapproval, which Glass Lewis defines as 20% or more, directors consult with shareholders about how to make internal changes to address their concerns. Investors in Live Nation and Cumulus Media used recent shareholder meetings to vote their disapproval of those companies’ CEO pay packages. UMG did not immediately disclose the percentage of votes cast in support of the proposals at this year’s annual meeting, which was livestreamed only to registered shareholders.
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