Inbrief

Insurance group Aflac has become the first big US company to hold a shareholder vote on executive pay. American companies are not required by law to have such votes, but Aflac’s decision is expected to set a trend. Already the telephone company Verizon has decided to follow suit. Last year the House of Representatives passed the Shareholder Act on Executive Compensation, which requires companies to hold a vote of approval on the remuneration of top executives. However, the bill, which was introduced by the Illinois senator Barack Obama, has not yet been approved by the Senate. In last month’s Aflac vote, the $14.8million (£7.6m) package given to chief executive Don Amos won overwhelming support from investors.