Business
‘Corporate suicide’: Kogan faces backlash over $80m executive bonuses – Sydney Morning Herald
The plan to award executives with a $100 million-plus pay packet has drawn the ire of major proxy firms and has prompted calls for the corporate regulator to intervene….
In total, the options are worth some $112 million, which has drawn the ire of Australia’s three major proxy advisory firms CGI Glass Lewis, ISS and Ownership Matters who have all recommended their clients vote against the proposal.
The governance firms have primarily taken issue with the “excessive” value of the shares, along with the lack of performance hurdles associated with the grant. All Mr Kogan and Mr Shafer have to do to be awarded the generous fillip is to not resign by 2023.
However, if…
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