Marketing guru Todd Sampson is the next Qantas director who could feel the ire of shareholders at the company’s annual meeting next month.
“This recommendation has been made in the interests of board accountability for the collapse in Qantas’ reputation and public standing, especially over the past 12 to 18 months,” Ownership Matters founder Dean Paatsch said in a report to investors.Sampson has heightened responsibility for this, despite the board’s collective responsibility
, given he has been a director for more than eight years and his background in advertising, marketing and brand management.” Mr Paatsch said Qantas had expressed concerns that Mr Sampson’s exit could destabilise the board, given the average tenure of directors will fall to three years after its chairman, Richard Goyder, steps down in November.
The proxy firm also recommended investors reject Qantas’ remuneration report, given “there has not been an appropriate reduction”“The board has instead deferred paying the financial year 2023 annual incentive and has noted its ability to claw back the vested financial year 2021 long-term incentive, which is now subject to a holding lock for at least a year, as it awaits further information both in relation to the High Court decision and the action the ACCC launched against Qantas ...
“It is not clear what further information the board requires in order to respond to the unanimous High Court decision, which has exposed the airline not only to reputational damage but financial penalties and compensation on the basis of economic loss to the former employees in addition to redundancy payments already made.”reported that US-based proxy adviser Glass Lewis has also rejected its remuneration report., with shareholders expressing concerns over governance failures at Qantas.
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Qantas shareholders urged to reject executive pay packetsProxy advisors also urged shareholders to vote against the re-election of marketing executive Todd Sampson at the forthcoming annual general meeting.
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Qantas shareholders urged to reject executive pay packetsProxy advisors also urged shareholders to vote against the re-election of marketing executive Todd Sampson at the forthcoming annual general meeting.
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Qantas shareholders urged to reject executive pay packetsProxy advisors also urged shareholders to vote against the re-election of marketing executive Todd Sampson at the forthcoming annual general meeting.
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