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BNY Mellon board recommends shareholders vote down pay gap disclosure proposal

Feb 28, 2019 - SNL Financial

Bank of New York Mellon Corp.'s board recommended shareholders vote against a proposal by Arjuna Capital LLC to disclose the company's pay gap statistics.

Arjuna Capital, a sustainability-focused investment company, argued that although BNY Mellon has disclosed that there is a 1% pay gap between male and female employees, their disclosure does not take into account how discrimination affects differences in opportunity. The company said disclosing median pay gaps will address the structural...