Business
Billionaire retailer Solomon Lew lashes shareholder protest over JobKeeper claims – Sydney Morning Herald
Major fashion retailer Premier Investments has been delivered a rare ‘first strike’ after shareholders protested the company’s decision to issue bonuses while receiving…
The resounding strike was issued following advice from major proxy firm ISS, which cited a slew of issues including excessively high remuneration for chief executive Mark McInnes and weak hurdles for the awarding of bonuses.
ISS also took issue with Premier’s lack of disclosure of the “true impact” of COVID-19 on the business, noting that the company received significant JobKeeper subsidies which boosted earnings and therefore boosted the level of bonuses awarded to executives.
“[Short-term bonuses]…
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