{
  "id": 11147375,
  "title": "Proxy adviser calls for Australia's ASX shareholders to reject pay report",
  "url": "https://urgent.news/2026/10/01/proxy-adviser-calls-for-australias-asx-shareholders-to-reject-pay-11147375",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T08:10:24.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/proxy-adviser-calls-australias-asx-shareholders-reject-pay-report-6423881"
  },
  "original_language": "en",
  "account": "Sydney, October 1 - Proxy adviser Institutional Shareholder Services (ISS) has advised Australian Securities Exchange (ASX) shareholders to reject the pay report, contending that executive bonuses are not aligned with the company's recent performance. ISS highlighted that the short-term variable remuneration (STVR) fails to reflect the company's financial results and shareholder returns, which is the main concern. A vote against the remuneration report is deemed appropriate. The ASX is set to hold its annual meeting on October 22, its first under new CEO Anthony Attia, who succeeded Helen Lofthouse in May. The ASX has been under scrutiny for governance issues and platform outages in recent years, leading to a 23.6% decline in its share price and underperformance compared to peers and the index. Despite this, ISS noted that the board did not reduce the bonus pool, which remains at 100% of the target. Half of the bonuses were based on non-financial performance measures, including employee engagement. Under Australia's two strikes rule, a shareholder vote against the pay report exceeding 25% constitutes a strike. A no vote from shareholders two years in a row would lead to a vote on whether to remove the entire board. CGI Glass Lewis, another proxy advisory firm, recommended shareholders endorse the pay report at the upcoming meeting, though acknowledging weak shareholder returns but highlighting operational progress, such as the completion of the initial phase of the Clearing House Electronic Subregister System.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Proxy adviser calls for Australia's ASX shareholders to reject pay report",
        "url": "https://urgent.news/2026/10/01/proxy-adviser-calls-for-australias-asx-shareholders-to-reject-pay-11144705",
        "published": "2026-10-01T08:10:24.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Proxy adviser calls for Australia’s ASX shareholders to reject pay report",
        "url": "https://urgent.news/2026/10/01/proxy-adviser-calls-for-australias-asx-shareholders-to-reject-pay",
        "published": "2026-10-01T08:13:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}