Dec 12 (Reuters) - Australia's Westpac Banking Corp (WBC) will receive a protest vote against its executive remuneration plans, the bank's chairman said on Wednesday.
More than half of shareholders may be against a resolution to approve executive bonuses, Chairman Lindsay Maxsted said, citing votes already received.
"This means we will incur a first strike. This sends a strong message to the board," Maxsted said in the statement.
Under Australian corporate rules, if more than a quarter of shareholders vote against a pay proposal for two years running, they can call for the board to be removed.
Dec 12 (Reuters) - Australia's Westpac Banking Corp (WBC) will...
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Last
$37.65 |
Change
-0.310(0.82%) |
Mkt cap ! $128.7B | |||
| Open | High | Low | Value | Volume |
| $37.74 | $37.76 | $37.41 | $162.0M | 4.306M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13932 | $37.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.68 | 40000 | 1 |
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| Last trade - 16.12pm 09/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |