ANZ has had a first strike on its remuneration plan, via the AFR:
ANZ Banking Group chairman David Gonski said the bank faces a first strike against its remuneration report when the shareholder poll is taken later today, with preliminary numbers showing 34 per cent of shareholders voting against it, after “a confronting year for all of us at ANZ, including your board”.
But that pales next to NAB:
NAB has been hit with an unprecedented 88.11 per cent vote against its remuneration report during the bank’s AGM leading to the bank attracting its first ever strike.
…If a bank or company attracts two consecutive no votes of 25 per cent or more, shareholders are able to spill the board through a vote. It is the biggest vote against a remuneration report recorded against an ASX300 company since voting was introduced in 2005.
Farewell Dr Henry.
