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Aflac Lets Holders Vote On Executive Comp

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An insurer created a small media frenzy Monday with a “say on pay” initiative.

Aflac Inc., Columbus, Ga., a supplemental benefits insurer previously best known for selling cancer insurance in Japan and creating the Aflac Duck, gave shareholders a chance to vote on the company’s executive pay-for-performance program.

About 93% of votes were cast in favor of the Aflac executive comp program and 2.5 against, Aflac says.

The Aflac say-on-pay vote, announced in March, appears to be the first such vote organized at a U.S. public company, Aflac says.

In addition to attracting widespread print and Web media attention, the vote received prominent coverage on CNBC.