First strike. Shareholders will get a chance to spill the board next year if they deliver another strike.
Understandable. A few issues here
1. Compared to previous years (FY22 & FY23 specially) MQG is performing sub par, with estimates FY27 being the start to get traction to exceed 2023 profitability. Post #:79936842 2. Well publicised compliance failings. Four regulatory actions against Macquarie in just over a year alleging “repeated and systemic” misleading conduct over a failure to report short sales. We know how much we hate those shorts... Its not just that either. There gave been compliance failures relating to futures dealing and over-the-counter derivatives. 3. Then there is the remuneration in itself. Hard to convince shareholders, even LT shareholders like me that the remuneration consequences applied to executives vis a vis regulatory action are sufficient. That profit share scheme, which represents the largest component of the executive pay package needs a really good overhaul. I mean seriously...
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