When PotashCorp surveyed shareholders in 2010 about their perceptions of the company’s compensation policies, it was the latest in a series of steps designed to help them better understand our core philosophies on executive compensation and give them a voice on pay.
“This was the first year we reached out to shareholders online to gather opinions about our compensation policies,” notes John Estey, chair of PotashCorp's executive compensation committee. “The responses have given the board a better picture of how some shareholders view our pay practices and correlate well with the results of the voting on the ‘say on pay’ resolution.”
The survey asked participants to rate their degree of comfort with PotashCorp’s executive compensation practices, which had been explained in online videos and interactive links. The majority of participants were longer-term retail shareholders.
We scored highest for our ability to attract and retain well-qualified executives and the appropriateness of our stock ownership requirements. The overall average score for the survey's six questions was 2.9 on a scale of 1 (very uncomfortable) to 4 (very comfortable).
“Giving shareholders an opportunity to express their views is important to our company,” says Estey, who says the survey will be repeated in 2011. “Last year’s survey was a good start and we hope to hear from more of our shareholders this year. While the rankings are an important benchmark, even greater insight comes from the commentary that our investors provide.”
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