The Globe and Mail reports in its Thursday, June 29, edition that shareholders have approved CI Financial's executive compensation in a "say on pay" vote at the company's annual shareholder meeting, a reversal from a rejection in 2022. The Globe's David Milstead writes that 91.38 per cent of CI Financial shareholders voted "yes" on pay, in line with the typical result at Canadian companies. In 2022, CI received 45-per-cent support, with 55-per-cent opposition. It was the second year in a row the company had failed its say-on-pay vote. Say-on-pay votes allow shareholders to show their approval, or lack thereof, for corporate boards' pay policies for their companies' top executives in a vote at annual general meetings. The votes are non-binding, but most companies try to pass with 90-per-cent support or more. CI faced negative recommendations in 2022 from major proxy advisers, which advise institutional investors on how to vote their shares. At CI, Institutional Shareholder Services said it recommended a "cautious" favourable vote, in part because its quantitative pay-for-performance screen flagged CI's total shareholder return as lowest versus its peers. Both ISS and Glass Lewis & Co. recommended "yes" votes.