Egan Associates made its own submission to Treasury on the proposed legislation which will give shareholders a “two strikes” opportunity to vote down remuneration and oust a board at will.
Clawback Provisions
Treasury is proposing legislation to ensure the possibility of clawing back any executive reward that arises based on misstated financial statements.
Global Issues Impacting Remuneration – 2010
Egan Associates discusses issues affecting the remuneration area.
CAMAC Report
The CAMAC Report on the disclosure of remuneration and the simplification of incentive components has been postponed until the new year. It will now take
Financial Stability Forum – Principles for Sound Compensation
The Financial Stability Forum has released its Principles for Sound Compensation (Remuneration) following the GFC.
Share Plan Legislation 2010
In December 2009, the Government made extensive changes to the taxation of employee equity plans.
CEO Reward 2009: A Year of Further Decline
Among the top 100 companies whose financial years ended between January and October 2009, CEO reward levels reflected a decline from 2008 and a significant decline from the peak of the 2007 calendar year.
The 25% Proposition
When the Productivity Commission made a Draft Recommendation (Number 15) that entire Boards could be required to stand for re-election when specified proportions of shareholders had voted against the Remuneration Report in two successive years, it became clear that enough attention had not been paid by the market over the years as to how many, and which, shareholders vote at meetings.
Termination Payments Approvals
The potential implications of the changes made to the requirements for approval of certain termination payments are complex.
KMP Report No.1 : Change in Executive Pay Structures – 50 years
The structure and level of executive remuneration today is a product of a series of
sequential influences.