Bank pay backlash to hit pair

Original article by Patrick Durkin
The Australian Financial Review – Page: 14 & 16 : 4-Dec-18

The Australian Shareholders’ Association has urged investors to vote against the re-election of Craig Dunn as a director of Westpac at its upcoming AGM, as has proxy adviser CGI Glass Lewis. Both have concerns about his role as the former CEO of AMP and his chairmanship of Westpac’s remuneration committee. CGI has also recommended that Paula Dwyer not be re-elected as a director of the ANZ Bank at its AGM, while fellow proxy firm ISS also has concerns about Dwyer’s re-election. Australia’s AGM season has been quite turbulent so far, with a number of directors recording a significant percentage of votes against their re-election.

CORPORATES
AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CGI GLASS LEWIS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, APA GROUP – ASX APA, COMPUTERSHARE LIMITED – ASX CPU, JAPARA HEALTHCARE LIMITED – ASX JHC, MYER HOLDINGS LIMITED – ASX MYR, AMP LIMITED – ASX AMP, RAMSAY HEALTH CARE LIMITED – ASX RHC, TABCORP HOLDINGS LIMITED – ASX TAH, HEALTHSCOPE LIMITED – ASX HSO, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED

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