Citing significant risks associated with multiple recent data breaches, Verizon Communications investors have filed a shareholder proposal calling on the company’s board to link senior executive compensation to the effectiveness of its cyber security and data privacy practices.
A shareholder proposal calling on Verizon Communications Inc. (NYSE:VZ) to report on business risks arising from the company’s opposition to open Internet and network neutrality principles has gained important new support from investors, winning 26.4% of the vote at Verizon’s annual meeting on May 1.
A coalition of investors, which had requested that Verizon Communications Inc. (NYSE: VZ) publish regular reports on government and law enforcement requests for confidential customer data, today commended the company for publishing its first report and made recommendations for improving future reports.
In a victory for shareholders concerned about the role of telecommunications companies in government surveillance programs, Verizon Communications announced that it will begin to publish regular reports on the number of government requests it receives for customer data.
About one-quarter of all Verizon Communications Inc. (NYSE:VZ) shareholder votes were cast in favor of a proposal that asks the company to report on business risks from Verizon’s controversial FCC lawsuit and other actions to oppose open Internet and network neutrality principles.
Investors in AT&T, Verizon and Sprint will finally have an opportunity to vote on shareholder proposals which call on the companies to commit to network neutrality principles that would maintain open access to the Internet on wireless networks.