When I reviewed the remuneration arrangements for Frank Calabria, the MD/CEO elect at Origin Energy back on 9 September 2016 - see this wire (VIEW LINK) - I suggested there was going to be an issue about whether the Board would still proceed with what it proposed in the 2016 Remuneration Report released on 18 August: ask shareholders to approve deferred STI (from 2015) and an LTI grant to current MD/CEO Grant King. Today's AGM notice of meeting includes a resolution to make an LTI grant of options and performance rights to King at the upcoming AGM on 19 October 2016. Reading this I thought back to other companies that sought shareholder approval for an LTI grant to CEO who was leaving...and the first example I thought of was QBE Insurance 2013 AGM where shareholders were asked to approve grants to Frank O'Halloran who had, by this time, actually left. You can read more and see my thoughts at the time on the 2013 AGM resolutions at QBE Insurance (VIEW LINK) Origin Energy's AGM is on 19 October
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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