Aflac, the $25 billion insurance company, just voluntarily implemented a shareholder ‘say on pay’ clause that will begin in 2009. Dawn Wolfe, of Boston Common Asset Management, sent such a proposal to be included in Aflac’s proxy statement; however, instead of resisting, as companies such as Verizon and Qwest have done recently, the board agreed and adopted the proposal without necessitating a shareholder vote on the matter.

This decision, the first of its kind, is seen as keeping with Aflac’s focus on being a shareholder-friendly company, and it could signal the beginning of a new trend as companies look to satisfy shareholder demands in the interest of public relations.