I note that the MFG shareholder meeting to authorise executive pay increases is to be held on 13 December. I get the reason for the rise, but the timing is atrocious. However would a better approach be for the pay rise to be implemented when a stretch target has been reached? Something like FUM being at point X by date Y, or a similar sort of performance target? This would incentivise the executives to get the ship in order, and when they do a pay rise awaits? Surely this would appease shareholders, attract the right executive if they believe they can turn the performance around, and return some credibility to the performance of the board.
Is this a naive solution that has stumbling blocks that I can't see? Thanks.
MFG Price at posting:
$9.79 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)