I imagine there is going to be a lot of discussion and expressed dissatisfaction going on at the AGM.
But the following could be added by someone who loves stirring the board and management team purely from an entertainment point of view.
A shareholder pointed out at the BOQ AGM, that the remuneration should actually be amended further downwards.
Because the Remuneration Committee had erred in using adulterated information, for doing the comparison against the peer group which consists of the four major banks and also includes BEN and SUN.
The recent hearing by the Royal Commission has confirmed the self-servicing interest from the banking fraternity - this type of behaviour is probably common amongst many ASX companies.
Dr Henry the Chairman of NAB has confirmed this dubious practice, ensure KMP getting their unjustified rewards.
He mentioned that the KMP of NAB didn’t meet the remuneration criteria but the Board used their discretion to reward them without any downward adjustments on any form of rewards.
The BOQ Chairman at the AGM was doing quite a bit of verbal 'ducking and weaving' in justifying there was no need for downward amendments.
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