termination payments

Yesterday's announcement of Sam Walsh's retirement on 1 July 2016 and Jean-Sebastien Jacques' appointment as Deputy CEO and Board member from 17 March 2016 and Group CEO from 2 July 2016 provided clear disclosure on the remuneration decisions for both. I take a look at these decisions in this note.... Show More

Orica released its FY2015 results this morning: while revenue from continuing operations of $5.7 billion is down slightly on the pcp (FY14: $5.78 billion), underlying NPAT on continuing operations of $417.2 million is down 26% on FY14. Statutory NLAT of -$1.267 billion includes $1.169 billion in assets impairments. STI awards... Show More

Aside from the shareholder requisitioned resolution on the AGM agenda, there is also a resolution asking shareholders to approve a termination benefits scheme to apply to persons who hold a managerial or executive office currently or in the future. Approving this type of resolution means the Corporations Act 2001 (Cth)... Show More