What does this remind us of?
Extracted from
http://www.watoday.com.au/business/...ctor-remuneration-report-20161025-gs9wev.html
The protest came after Tabcorp decided to increase the pay packet of chief executive David Attenborough to $3.19 million in 2016 from $2.73 million the year prior.
Mr Attenborough received the pay rise despite Tabcorp's net profit plummeting nearly 50 per cent to $169.7 million during the year. During the same period underlying profit grew 8.4 per cent to $185.9 million.
Shareholder Eric Chan challenged the performance hurdles Tabcorp used in granting bonuses to its executive team, criticising Tabcorp's pay structure where the chief executive can collect a bonus despite the share price falling or the company booking reduced profits.
"I'm not quite happy about it.... You don't align shareholders and CEO performance really," Mr Chan said.
He said the company should introduce an absolute return measure that took into account poor results for shareholders instead of the company's relative performance measure – which compares Tabcorp's performance to the performance of other companies.
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