Salesforce shareholders reject compensation plan for CEO, other executives By Reuters

(Reuters) – A majority of Salesforce (NYSE: ) shareholders voted against the compensation plan for CEO Marc Benioff and other top executives, according to a securities filing on Monday.

The decision to approve the compensation received 339.3 million votes in favor and 404.8 million votes against it, the report said.

For the 2024 fiscal year, Benioff received $39.6 million in compensation, up from $29.9 million last year.

On May 29, the company forecast second-quarter profit and revenue below Wall Street estimates due to weak customer spending on business cloud and enterprise products, sending its shares down more than 16% after the bell.

Advisory firms Glass Lewis and Institutional Shareholder Services (ISS) both recommended that investors vote down the rating, according to a CNBC report.

Glass Lewis and ISS did not immediately respond to Reuters requests for comment.