This is an interesting article that was posted in another thread and it is worth bumping up for higher visibility.
https://www.paymentsdive.com/news/fiserv-shareholders-approve-pay-curb-proposal-management-objects-payments/624094/
6 replies (most recent on top)
Has any one really noticed the dumpster fire and will they do anything?
It is extraordinarily rare for shareholder proposals to prevail over board opposition. Frank can't be happy.
People are starting to catch on to the fact that talented employees are sprinting away from this dumpster fire. Policies and lack of cohesive strategy from Frank is the root cause.
By the way, are there any other CEOs reviewing badge scan data?
From: http://everything.sucks/Fiserv TELL THE WORLD!
"In 2019, the annual total compensation of Frank J. Bisignano was $40,263,383. The annual total compensation of the median employee at Fiserv was $65,254. The ratio of Frank J. Bisignano[[[APOS]]]s pay to the pay of median employee was therefore 617 to 1. As C.E.O. of First Data, Total Reported Compensation: $102,210,396 Pay Ratio: 2,028 Mr. Bisignano was the second-highest paid chief executive in the country this year, and one of only two on the Equilar list to earn more than $100 million. Mr. Bisignano is routinely granted humongous pay packages by his board of directors. He was awarded $51.6 million in 2015. The median salary at First Data, which processes credit-card transactions, was $50,406, resulting in one of the highest pay ratios — 2,028 — on the Equilar list. First Data, which did not reply to requests for comment, promotes an employee-ownership model in which stock is a part of every employee’s compensation, and “everyone is a shareholder and is rewarded as the company performs better.” That doesn’t mean the equity is evenly distributed. “Some people are getting more equity than others,” said Louis Hyman, a business historian at Cornell University. “It seems like another way to get people to work harder for a smaller cut of the pie.”"
Shows mistrust and concern about upper management bailing with large amounts of cash.
Hmmm...
He avoided the question asked by an investor regarding morale. Apparently he answered a more interesting question about the employee survey. The survey that people do not answer honestly.
Investors, morale sucks. My team has lost 1/3 of the team since the first of the year with more to come because of Frank's policies.