The AFL-CIO, a major shareholder in public companies, is targeting Verizon Communications Inc. this year for a shake-up of its board of directors as it accuses the company's chief executive of collecting exorbitant pay while turning in a poor performance. The labor federation scored successes last year at Home Depot Inc. and Pfizer Inc., whose chief executives departed in a storm of investor anger over executive pay. AFL-CIO officials said Thursday that they had chosen Verizon CEO Ivan Seidenberg as their "poster boy" for 2007. "I defy anybody to say this guy has earned the money," said Richard Trumka, the AFL-CIO's secretary-treasurer.
See "AFL-CIO takes aim at Verizon chief", Associated Press, Los Angeles Times, April 5, 2007