Biogen shareholders get yearly vote on execs' pay

Biogen Idec ($BIIB) had its annual shareholder meeting yesterday with none of the theatrics that seen at such meetings in previous years when there were fierce proxy contests, the Boston Globe reported. Yet shareholders of the biotech giant's stock approved one key measure with management's support to give them the chance to take an advisory vote annually on executive pay at the company. George Scangos, who took over as Biogen's chief executive last summer, endorsed the move to have let shareholders weigh in annually on compensation. While Scangos received $20.3 million in compensation from Biogen last year, according to the Globe report, which cited regulatory documents, the company's stock price improved by 25 percent in 2010. Story