NEW YORK (AP) - Bermuda-based diversified industrial manufacturer Ingersoll-Rand Co. said yesterday its board approved changes to the company's long-term incentive programme, and has also agreed to hold a shareholder vote related to executive compensation in June.

At its October 5 meeting, Ingersoll-Rand approved changes to its incentive programme and agreed to hold an advisory vote on executive compensation at its annual meeting in June.

Herbert Henkel, chairman, president and chief executive of Ingersoll-Rand, received 2007 compensation valued at $10.6 million, up 4.4 percent from a year earlier, according to The Associated Press' total pay calculations.

Separately, the board agreed not to renew the company's shareholder rights plan, known as a "poison pill", which expires in December 2008.

Further details on the incentive programme will released in the company's filing with the Securities and Exchange Commission.

"These actions reflect our continuing efforts to implement corporate governance initiatives that represent our shareholders' interests and ensure Ingersoll-Rand's long-term success," said Mr. Henkel.