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Article: S'HOLDER REVOLT AS 25% VOTE NO ON AUST CO CHALLENGER'S REMUNERATION REPORT.
- Article from:
- AsiaPulse News
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Nov 12 Asia Pulse - More than a quarter of voting shareholders have gone against Australian firm Challenger Financial Services Group Ltd's (ASX:CGF) remuneration report that seeks to boost the long term incentives of senior executives.
The protest vote, at Challenger's annual general meeting in Sydney on Thursday, is the latest in a string of recent shareholder protests over senior pay.
Challenger, Australia's biggest annuities provider, said that 88 million shares, or 27.6 per cent of the voted stock, were cast against the adoption of the remuneration report for 2008/09.
A further five per cent of the shares were directed to abstain.
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