This report summarises key themes from the results of all resolutions at security holder meetings of S&P/ASX 300 entities in 2014.
Key themes include:
- Directors were again overwhelmingly re-elected but 2014 saw that rarest of events – institutional investors at Cabcharge voting a director off a board
- Votes against management outside of high profile exceptions were however generally lower in 2014 than in prior years
- In a handful of cases votes against management were very large; more remuneration reports received majority against votes than in any year since ‘two strikes’ was introduced in 2011
- Data since the introduction of two strikes also confirms the uncanny ability of management to narrowly triumph in close votes
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