Let's not forget the MD and CEO was a Board member for several years alonside the Chairman who oversaw the awarding of this remuneration.
By rewarding the MD and CEO handsomely and giving him the gig, he freed up Board spaces to give to two others.
Result? Everyone happy, loyal, and looked after by the now safe Chairman. Problem is, not the shareholders, who are supposed to be 1st in line.
Arafura Rare Earths Ltd, page-1048
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