Nucor shareholders approve executive pay, reject majority vote standard

Nucor shareholders approved the Charlotte-based steel maker’s slate of directors and its top executives’ compensation, the company said at its annual stockholder meeting in Charlotte Thursday.

Shareholders defeated a proposal submitted by the United Brotherhood of Carpenters Pension Fund that would have required directors be elected by a majority of votes cast at the annual meeting. Currently, a director can be elected with as little as one vote, even if a majority casts “withhold” votes against the nominee, the union argued.