company plans: Just over three-quarters of proxy votes cast at today AGM in Sydney supported the company plans to increase the pay packet of managing director David Attenborough and other executives, but about 22 per cent of votes were against the motion, falling just short of the 25 per cent needed for a "first strike" motion against the company, according to Australian Broadcasting Corporation. Mr Attenborough is in line for a pay rise from $2.7 million to $3.1 million, despite the gaming giant profit plunging by half in 2016. Map: Australia Gambling giant Tabcorp is the latest big company to be hit by an investor backlash over executive pay during the annual general meeting season. The Australian Shareholders' Association and several corporate governance advisers opposed Tabcorp planned increases in executive pay. The case will start in the Federal Court in June next year. Tabcorp is also facing stiff legal bills from court cases including allegations from Australian financial crime regulator, AUSTRAC, alleging that it broke anti money laundering laws by failing to report more than 200 suspicious transactions.
(news.financializer.com). As
reported in the news.
Tagged under company plans, motion topics.