Last week’s FirstRand annual general meeting joined a slew of shareholder meetings at which remuneration and implementation plans by the management teams who theoretically run these entities in their interest have caused alarm.
Ian Moir came under fire at Woolworths’ meeting, and last week Alan Pullinger and his team received similar scrutiny. More than half of those present at the AGM voted against the FirstRand remuneration implementation report. While the remuneration of these executives in a context of great difficulty and uncertainty loomed large, it clearly was not just a boardroom or shareholder matter...
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