Faith-based institutional shareholders are asking 21 leading healthcare companies to disclose the pay of their top executives compared with their lowest-paid workers.
Companies urged to disclose pay disparity figures
The Interfaith Center on Corporate Responsibility is organizing the shareholder resolutions. The group has about 300 members with assets exceeding $100 billion, it said.
Aetna, Cigna Corp., Humana, McKesson Corp., UnitedHealth Group, Medtronic, Eli Lilly & Co. and WellPoint are among the companies being asked to disclose the pay data. The companies receiving the resolution did not respond to a request for comment by deadline.
“Pay disparity is an important issue because costs in the market-based health industry have been much higher than other industries,” said the Rev. Michael Crosby, coordinator of the Wisconsin, Iowa and Minnesota Coalition for Responsible Investment, in a written statement. Members of Crosby's coalition filed about one-fourth of the resolutions sent to the healthcare companies.
The pay-disparity resolution request includes: A comparison between the total compensation package of top executives and lowest-paid employees; an analysis of changes in the gap between the two groups over the past nine years; and an explanation of whether the pay disparity merits any review or changes.
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