Dec 12 (Reuters) - Australia's Westpac Banking Corp (WBC) will receive a protest vote against its executive remuneration plans, the bank's chairman said on Wednesday.
More than half of shareholders may be against a resolution to approve executive bonuses, Chairman Lindsay Maxsted said, citing votes already received.
"This means we will incur a first strike. This sends a strong message to the board," Maxsted said in the statement.
Under Australian corporate rules, if more than a quarter of shareholders vote against a pay proposal for two years running, they can call for the board to be removed.
Dec 12 (Reuters) - Australia's Westpac Banking Corp (WBC) will...
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Last
$33.38 |
Change
-0.230(0.68%) |
Mkt cap ! $115.0B | |||
| Open | High | Low | Value | Volume |
| $33.50 | $33.58 | $33.38 | $35.93M | 1.073M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1421 | $33.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.38 | 109 | 1 |
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