Vote of the Week: Nabors Industries and Tutor Perini

Vote of the Week: Nabors Industries and Tutor PeriniZoom inDownload PDF

In our “Vote of the Week,” we discuss Nabors Industries and Tutor Perini. Both companies have failed each of the past three years with Nabors receiving 36% support in 2013, 25% in 2012 and 43% in 2011 and Tutor Perini receiving 38% support in 2013 and 2012 and 49% in 2011. We identified both companies due to commonalities surrounding low support including: high CEO compensation combined with poor TSR performance and declining net income and incomplete responses to address prior and current years’ shareholder concerns. In parallel with the failed Say on Pay votes, two directors at Nabors and one at Tutor Perini were not re-elected in 2013.