Union’s Vote Fails to Separate Verizon CEO, Chairman Jobs
Verizon Communications shareholders voted down a proposal to separate the roles of chief executive officer and chairman filed by unions at Verizon’s annual proxy meeting Thursday, said a union spokesman. The proposal won 20.3 percent of the votes, he said. The International Brotherhood of Electrical Workers (IBEW), and Communications Workers of America (CWA) proposal the separation.
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The unions want the chairman selected separately from among the independent directors to make the executive more responsible. “Ivan Seidenberg is now both Chairman and CEO,” said IBEW Local 2321 Business Manager Ed Starr. “How can he be his own boss?”
A 20 percent “yes” vote was a “fine” result, since all previous similar proposals got no more than 10 percent, said the union spokesman. According to the unions, 30 percent of Verizon workers are members as well as Verizon shareholders.
Verizon management is interfering aggressively with efforts to organize the Verizon’s Wireless and Business segments, according to a statement issued by the unions. “Verizon management has tried to isolate us from the company’s unionized workforce to keep us from having a voice on the job,” said Dave Rogol, a technician with Verizon Business.
Contract negotiations and other talks have occurred on and off for about a year between unions and company, according to the unions. Last year, a proposal requiring Verizon to submit future executive compensation packages to a non-binding shareholder vote passed after a close vote, the first time a “say on pay” proposal won a majority at a publicly owned U.S. company, said the unions.