Bristol-Myers changes guidelines on CEO pay

Prodded by one of its board members, Bristol-Myers Squibb has changed its guidelines for determining its CEO's pay. From now on, compensation will have to be approved by three quarters of the company's independent directors, rather than a simple majority. The move came at the behest of Harvard Law School's Lucian Bebchuk, who detailed online how the company had originally resisted the change before agreeing to it.

- read the report from The New York Times

ALSO: Bristol-Myers has extended its contract with Lonza for manufacturing the active ingredient to Orencia. Report

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