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TORONTO — Shareholders of BlackBerry Ltd. and CI Financial Corp. rejected corporate approaches to executive compensation.

Shareholders of the Waterloo, Ont., tech company voted 55.8% against the so-called Say on Pay proposal at its annual meeting on Wednesday.

More than 41% rejected last year’s proposal, but shareholder advisory firm Glass Lewis, which urged shareholders to vote no in this year’s vote, said most unaffiliated shareholders swayed. opposed it a year ago.

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CI Financial, a Toronto-based global wealth and asset management advisory firm, has seen its executive compensation proposal fail for a second straight year.

Nearly 55% of shareholders rejected CI’s approach to compensation on Wednesday, up from 61.9% who voted no last year.

Say on Pay votes ask investors to vote on a company’s top executive compensation. Such votes at annual meetings that are termed “advisory” traditionally receive support from shareholders.

This report from The Canadian Press was first published on June 22, 2022.

Companies in this story: (TSX:BB, TSX:CIX)