ConocoPhillips Shareholders Reject Executive Pay Proposal

Shareholders of oil producer ConocoPhillips (COP) rejected a proposal at their annual meeting on Tuesday that would have linked executive compensation with U.S. accounting standards.

Shareholders of the company, who met in a Houston hotel, also approved a slate of 10 for the board of directors and voted in favor of the existing executive compensation program.

Reporting by Ernest Scheyder