An extensive study into the boards of ASX 300 companies reveals how, and by whom, our largest companies are being governed.
Striking the right balance between objective independence and so-called skin in the game is a topic that has divided shareholders, boards and governance experts for decades.
Ownership Matters’ Dean Paatsch said the practice of non-executive directors being granted options or other leveraged incentives has largely been eliminated from the top 200 pool. And 50 directors of ASX 100 companies, 72 of ASX 200 companies, and 86 of ASX 300 companies do not own a single share of the business whose board they serve on.
With the exception of Chaney, those directors delivered mixed outcomes for shareholders in terms of total shareholder returns relative to the market and their industry, the report showed.was paid $1.2 million from his sole directorship while Rio Tinto’s Dominic Barton and Fortescue deputy chairman Mark Barnaba also made it into the million dollar fee club with a sole appointment for top 100 companies.In the top 200, Brainchip chairman Antonio Viana’s disclosed remuneration topped $2.
However, the lack of female leaders is an area for improvement with 10 per cent of ASX 100 boards chaired by women and 12 per cent of top 100 companies overseen by a female CEO.
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