Shareholders of The Hartford Financial Services Group voted to approve executives’ compensation, the board of directors and to appoint Deloitte & Touche as the company’s independent accounting firm.
The meeting was sparsely attended — a few dozen people — and short, with no comment from shareholders. Many shareholders clearly voted prior to the meeting.
CEO Liam McGee recapped highlights of the early part of the year, and said the company announced during its first quarter a $1.5 billion capital management plan.
The plan “includes reducing outstanding debt by about $1 billion by the end of 2014,” McGee said, standing on stage before 1 p.m. Wednesday in The Hartford’s tower office on Asylum Hill.
McGee said the essence of the strategy announced in March 2012 is to “build greater financial strength and flexibility; focus and profitably grow our business portfolio; reduce the size and risk of The Hartford’s annuity exposure; and transform into a more effective, customer-focused and efficient company.”