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Vulcan Materials Company Message Board

  • passolidda passolidda Dec 11, 2009 4:11 PM Flag

    NEW Retirement age for BOD

    On December 11, 2009, the Board of Directors of the Company approved
    an amendment to the Company's Amended and Restated By-Laws (as amended, the "By-Laws"),
    which amendment is effective immediately. Section 2.01(a) of the By-Laws
    has been amended to extend the retirement age for directors to 74. .

    Give me a break...This is nothing more than Pay-off.
    Avg. age of the BOD: 67.5; four members 70+,four member 65+,
    remaining two 56 and 61.
    Don't know about the new appointees.

    VMC needs young blood.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • CEO James has this Board in his pocket granting him stock options galore (around 300,000 at a $47 strike last year). Why would he/they want to retire when they all have such a sweet deal going. Vulcan's current system of CEO pay rewards whether he succeeds or fails. The other exec's compensation is basically in line but James is grossly over-paid! Does anyone believe that when the stock price doubles from $47 to $94 that Don James had $14 million impact on one years options impact???? Give me a break!

 
VMC
66.27-0.02(-0.03%)Dec 24 1:03 PMEST

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