Ann: Results of 2018 Annual General Meeting, page-5

'the vote against the remuneration report was a protest vote against the directors and executives. Many people believe (myself included) that no bonus shold be paid for 2018 due to revelations from the Royal Comission.'

The KMP got off lightly it should have adjusted their remuneration further downwards

ensure Mr Hartzer’s remuneration is competitive and aligned with market remuneration in the financial services industry.

The Remuneration Committee had erred in using adulterated information, for doing the comparison against the peer group which consists of the four major banks and also includes BEN and SUN.

Dr Henry the Chairman of NAB has confirmed the dubious practice, in ensuring KMP getting their unjustified rewards.
He mentioned that the KMP of NAB didn’t meet the remuneration criteria but the Board used their discretion to reward them without any downward adjustments on any form of rewards.

So the BOD make it sound as if they were aware of this type of behaviour prior to it becoming public.

It sounds like it was common knowledge amongst the Institute of Directors.

Radicool Views