At the last meeting the shareholders approved the chief executive’s pay package by a 53 percent vote. You believe that if her pay isn’t cut, the shareholders will reject it the next time around. Your CEO, however, refuses to accept any cut. “If the shareholders want to gripe, let them,” she says, “it’s not binding.” She lets you know that if you do cut her pay, she will leave for other opportunities. Your company is in the midst of a major transformation of its product distribution system and you believe that a change at the top at this point would be catastrophic. You also believe that despite her rigidity on pay, the CEO is doing an excellent job and could not easily be replaced. What should you do?