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SHAREHOLDERS have sharply rebuked the Qantas board for the second year in a row over executive pay, delivering a hefty 44 per cent vote against former chief executive Geoff Dixon's massive remuneration. ` The backlash - one of the most resounding "no" votes of this year's AGM season - caps off a turbulent year for the airline, which booked an 88 per cent slump in its annual net profit in the face of the global economic meltdown. Read full article in the Herald Sun Thursday 22 October 2009
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Qantas shareholders can't stop $10m payout |
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QANTAS shareholders angry at a $10.7million payout to former boss Geoff Dixon fuelled a strong push to reject the airline's remuneration report yesterday but could not get up the numbers. More than 42 per cent of shareholders voted against the report but a decision by some major institutional investors to support it saved the board from an embarrassing defeat. Qantas executives fielded some pointed questions about executive pay, Jetstar flights to Burma and long working hours at Perth airport. Read full article in The Australian Thursday 22 October 2009
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ASA leads shareholder dissent at Qantas AGM |
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The Qantas board and management must have thought the scrutiny at this year's AGM in Perth would be much less intense than the 3 hour event in Sydney in 2008, where they were harassed on all sides by shareholders, politicians, staff and unions.
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Chairman grilled on Dixon payout |
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SHAREHOLDERS have given Qantas chairman Leigh Clifford a grilling over executive payouts at the company's Perth AGM. They were angered by Mr Dixon's $10.7 million final payout. Wednesday 21 October 2009 Read full article in Herald Sun
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Plan to beef up vote on pay deals |
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PROPOSED reforms to curb excessive executive pay that include giving shareholders a "two strikes" power to force out directors have been broadly welcomed by shareholder groups and Australia's largest company, BHP Billiton.
However, governance advisers have stopped short of fully embracing the Productivity Commission's draft report, saying it missed the opportunity to reinstate rules that allowed shareholders to vote on companies buying shares to give to executives.
1 October 2009
Read full article in Herald Sun
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