AMP avoids second strike, despite âdisappointingâ year
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Wealth giant AMP has narrowly avoided a second strike against executive pay, despite a fiery annual meeting where shareholders probed the boardâs competency and track record.
Almost 24 per cent of shareholders voted against AMPâs remuneration report, just shy of the 25 per cent needed for the second strike that would trigger a vote to spill the board.
Last year, more than 67 per cent of shareholders voted against AMPâs remuneration report, and the company was bracing for a second strike following influential proxy firm ISSâs âagainstâ vote recommendation.