The proxy battle for control of Hess (HES) isn't just about who should sit on the board but also...

|About: Hess Corporation (HES)|By:, SA News Editor

The proxy battle for control of Hess (HES) isn't just about who should sit on the board but also how the directors should be paid. The Elliott hedge fund, which controls 4.4% of HES shares, wants to elect five board members and directly pay them bonuses based on how the stock performs. John Hess, whose father founded the company during the Depression, owns 10.6% and is digging in for a battle.