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BlackRock shareholders approve nonbinding CEO pay proposal

BlackRock Inc. shareholders on May 25 voted in favor of a nonbinding resolution to approve the compensation of the company's executives, including Chairman and CEO Laurence Fink.

Ahead of the shareholders' meeting, proxy advisory firm Glass Lewis & Co. had recommended that shareholders vote down the proposal because Fink "performed moderately worse" compared with peers but was one of the highest-paid executives in the industry in 2016.