Stanley Black & Decker pay gets thumbs down from shareholders

April 25, 2011|By Jamie Smith Hopkins, The Baltimore Sun

Stanley Black & Decker shareholders aren't happy about what the company is paying top executives.

About 54 percent of shareholders voted against the executive compensation packages, 35 percent gave them a thumbs up and the rest abstained or were broker non-votes, the company said last week. The results are advisory only, which means the company isn't forced to change its pay practices.

Nolan D. Archibald, executive chairman of the company and the former CEO of Towson-based Black & Decker, earned $28 million last year, the company reported earlier. A large piece of that was in options awards.

Black & Decker and The Stanley Works merged last year.

A majority of the company's shareholders also recommended last week that the company give them an advisory vote on pay every year.

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