The Financial Post reports in its Wednesday, April 29, edition that for the first time since Magna International's controversial $1-billion buyout of its founder's controlling interest in 2010, the company is receiving an okay from both major proxy advisory firms for its executive pay plan. The Post's Kristine Owram writes that chief financial officer Vince Galifi says Magna focused on the feedback it received from shareholders and, as a result, expects "to get some good improvement on our say-on-pay vote this time around." Both Institutional Shareholder Services and Glass, Lewis & Co. are urging Magna's shareholders to vote in favour of Magna's executive compensation plan at its annual meeting on May 7. For Glass, Lewis, this is the first time it has supported the pay packages for Magna's top brass since at least 2004. The proxy advisory service said last year marked the "end of an era" at Magna, as founder Frank Stronach received his final paycheque from the company on Dec. 31. Glass, Lewis, notes Magna has made several changes to its executive compensation structure based on shareholder feedback, including tying stock options more closely to performance.