There has been a significant increase in the number of ASX 300 companies receiving a strike against their remuneration report in the 2018 AGM season, with fifteen companies overall receiving strikes compared with six in 2017.
The decade since the Global Financial Crisis can be regarded as one of considerable change in relation to incumbency and reward.
The 2017 and 2018 reporting periods have seen increased shareholder activism, changes in emphasis and priorities expressed by institutional investors and proxy advisors, and a sense of urgency in addressing issues arising from the Hayne Royal Commission which are clearly observed as extending beyond the Financial Services Sector.
The Banking Royal Commission’s Interim Report provided us with insights into two very different outcomes resulting from the activities of several financial services organisations.
Companies need to identify ways to make annual general meetings (AGMs) transparent, ethical, and effective.