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BlackRock wields its big stick on CEO pay like a wet noodle

Money management giant rarely votes against CEO pay packages of companies that play the short-term game

In his annual letter to shareholders, Mr Fink said that his firm believed "in a pay-for-performance culture, aligning employee incentives and compensation with company-level performance".

New York

FOR several years, Laurence Fink, chairman and chief executive of BlackRock, the money management giant, has been on a crusade, exhorting corporations to change their short-term ways. Executives should forgo tricks that reward short-term stock traders, he argues, such as share...

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