Time for Kevin to go, page-16

New AFR Article on Kevin's Jet.. looks like corporate greed!!


https://www.copyright link/companies/energy/jet-costs-cloud-proxy-adviser-support-for-santos-20240326-p5ffcz


Jet costs cloud proxy adviser support for Santos

Angela Macdonald-SmithSenior resources writer

Mar 26, 2024 – 5.39pm

The two most powerful proxy advisers have backed the re-election of Santos chairman Keith Spence in the face of a campaign by an activist shareholder group to have investors vote against him on the grounds of “poor performance and strategic failings”
.But the support from Institutional Shareholder Services and CGI Glass Lewis is tempered by “concerns” raised by the former about remuneration at the oil and gas producer, in particular over the use of a corporate jet for travel by CEO Kevin Gallagher and the rest of the board and top management.Santos’ 2017 Dassault Falcon is used “by the board and executive team”. Grahame Hutchison, 16 Right MediaISS highlighted the “disconnect” between the cost of the perk to the company as reported in The Australian Financial Review’s Rear Window column at $US3.3 million and the “other benefits” for the CEO of $US6770 stated in Santos’ annual report for 2023.“Shareholders may choose to engage with the company with regard to this additional benefit afforded to the CEO by the company and the disconnect between the reported cost of the perquisite to the company and the statutory ‘other’ benefits for the CEO reported in the 2023 Annual Report,” ISS said in its report for clients ahead of Santos’ AGM on April 11.“Concerns are highlighted for appropriate corporate governance in this regard.”