ConocoPhillips shareholders reject executive pay proposal

ConocoPhillips shareholders reject executive pay proposal

Shareholders of oil producer ConocoPhillips rejected a proposal at their annual meeting on Tuesday that would have linked executive compensation with U.S. accounting standards.

FILE PHOTO: A Conoco gasoline station in St. Louis, Missouri
FILE PHOTO: A Phillips66-owned Conoco gasoline station in St. Louis, Missouri January 14, 2015. REUTERS/Kate Munsch/File Photo

HOUSTON: Shareholders of oil producer ConocoPhillips rejected a proposal at their annual meeting on Tuesday that would have linked executive compensation with U.S. accounting standards.

Shareholders of the company, who met in a Houston hotel, also approved a slate of 10 for the board of directors and voted in favor of the existing executive compensation program.

(Reporting by Ernest Scheyder; Editing by Chizu Nomiyama)

Source: Reuters

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