Grant King will retire at the 2016 AGM and Frank Calabria, currently the CEO Energy Markets within Origin Energy, will take over as MD/CEO on that date. I take a look at the remuneration package for the new MD/CEO Frank Calabria alongside the remuneration package in FY2016 for Grant King in this note (VIEW LINK) The FY2016 remuneration report stated the company would seek shareholder approval at the 2016 AGM in relation to deferred STI for the 2015 STI award and a grant of securities for FY2016. This resolution was withdrawn from the 2015 AGM agenda (resolution 8) and not put to shareholders. Today's announcement doesn't deal with this issue nor provide a clear statement of how Grant King will be remunerated on his departure from the company.
With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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