NEW YORK (Bloomberg) — Shareholders of Ingersoll-Rand Co., the Bermuda-based maker of Bobcat machinery and Thermo-King refrigerated trucks, approved a proposal urging directors to adopt a policy allowing for an advisory stockholder vote on executive pay.The proposal was approved by a margin of 55 percent to 42 percent at Ingersoll-Rand's annual meeting yesterday in Woodcliff Lake, New Jersey, the company said in an e-mailed statement.

Ingersoll-Rand said it will ask its 20 largest investors, who own about half of its outstanding stock, to share their views on executive compensation. Chief executive officer Herbert Henkel's total pay last year was $18.2 million, according to a regulatory filing.