SYDNEY, Dec 12 (Reuters) - Shareholders of Australia's Westpac Banking Corp (WBC) voted on Thursday against the company's executive pay plans for a second year running, as the bank reels from a money laundering scandal.
Owners of 35% of the company's shares voted against the company's executive pay plans at its annual general meeting in Sydney, well over the quarter vote needed to defeat a company's remuneration plans under Australian law, while 65% voted for it.
A "second strike" allows for a second vote on whether to remove a company's entire board. However, just 9% voted on the "board spill" motion.
News: WBC Australia's Westpac shareholders vote against exec pay for 2nd straight year
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Last
$33.82 |
Change
0.100(0.30%) |
Mkt cap ! $115.7B | |||
| Open | High | Low | Value | Volume |
| $33.45 | $33.91 | $33.45 | $143.6M | 4.249M |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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| WBC (ASX) Chart |