Blockbuster Board Adopts Non-Binding 'Say on Pay' Shareholder Vote

Blockbuster Board Adopts Non-Binding 'Say on Pay' Shareholder Vote

DALLAS, March 25 // PRNewswire-FirstCall // -- Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) today announced its Board of Directors has adopted a policy that will give shareholders a non-binding advisory vote on executive compensation beginning in 2009.

The advisory vote, commonly referred to as a "say on pay" provision, will be submitted to Blockbuster's shareholders each year at the company's annual shareholders meeting. The new policy gives shareholders the ability to advise the Board on whether they believe the annual compensation of the top executives at the company, including Chairman and Chief Executive Officer James W. Keyes and Chief Financial Officer Thomas M. Casey, should be ratified. Slightly more than half the votes cast at Blockbuster's 2007 annual meeting supported the enactment of such a provision.

"Our Board is very pleased to take this important step, which reinforces our commitment to implementing strong corporate governance practices and improving transparency with our shareholders," said Jim Keyes. "Holding this advisory vote on executive compensation on an annual basis will not only improve dialogue with our shareholder base, it will also provide our Board with valuable feedback on our compensation policies, which currently link both bonus and equity compensation to Blockbuster's financial and operating performance."

The Board's adoption of "say on pay" is the latest step taken by the Board to promote director accountability. At last year's annual shareholders meeting, the Board proposed to eliminate the classification of the Board of Directors so that all directors would be subject to an annual election, and the shareholders approved this proposal.

About Blockbuster

Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) is a leading global provider of in-home movie and game entertainment, with over 7,800 stores throughout the Americas, Europe, Asia and Australia. The Company may be accessed worldwide at

SOURCE: Blockbuster Inc.



comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Hungry Howie's Pizza
Hungry Howie's is currently EXPANDING! Top Markets are available for single or multiple unit development. Get the EDGE over the competition with...
Minuteman Press International
Minuteman Press is the world's largest & number 1 rated printing & marketing franchise. Our business model features multiple revenue streams,...
Red Mango
Based in Dallas and with more than 300 locations across the U.S., Mexico, El Salvador and Uruguay, Red Mango is a rapidly-expanding retailer of...
Estrella Insurance
Estrella Insurance® specializes auto insurance & car insurance quotes.
Brooklyn Fitboxing
Brooklyn Fitboxing is a fun and effective training experience, where music, fitness, and technology converge to unleash healthy and engaging...
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.