In spite of anger over a declining SP, which I completely...

In spite of anger over a declining SP, which I completely understand, the fact of the matter is that these ED & NED salaries are about in line with companies that are of a similar size.

The Q that should be asked is: Are the shareholders getting value for money? not whether the fees are too high.

Pay peanuts, and you get monkeys. If you're paying reasonable director's fees but still getting monkeys you dont lower the fees, you get rid of the monkeys!

I am fully aware that its very difficult for shareholders to force a board spill. The only real weapon we have is our vote against the remuneration report. Even with the 3 strikes policy the same directors will nominate and be voted in by institutional owners. But a protest vote does send a message: one that they will hopefully hear and act on.