Considering some observations made by proxy advisers, institutional investors and researchers pertaining to the 2018 financial year, we believe some key issues for 2019 AGMs will include: The quality and comprehensiveness of disclosures focusing on: Business strategy Financial performance of the year in review Operational performance of the year in review Board composition, renewal and… Read More
Is it time for a new paradigm? Board Remuneration Committees of major companies, of which financial services represent a significant proportion, generally seek information and occasionally advice from consulting organisations in positioning their remuneration strategy.
Questioning by Counsel at the Hayne Royal Commission of Board Chairmen, CEOs and accountable executives has revealed the market’s expectation of the level of stewardship and scrutiny which shareholders and customers in particular might anticipate rests with the Board or the CEO in communicating strategy, financial results and breaches of company policy.
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.