Can anyone advise if there is a reference point for a process to write to the company to review directors salaries?
If there is a process available I would like to attempt to follow that i n relation to some of the board mambers in CTO!
In this instance, the MD has over-promised in the past, and as a result of that the company has had a 'slap-on-the-wrist' fine.
I believe that we as shareholders need to try to bring the management to account until such time as some milestones have been achieved. This should cover both shares and cash.
It does not only apply to Citigold. Quite a number of companies these days have justified their salaries on 'well he gets it and so should I'!
The companies basically write their own ticket and are bound by ASIC rules to lay out their salaries for shareholders to vote on - but the vote does not impair or effect the plan for the year.
If it is possible, shareholders should take action against other companies where possible.
Regards
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