The Future Fund voted against more than 40 companies’ remuneration reports in the past year, putting executives and boards on notice ahead of the forthcoming annual general meeting season.
The sovereign wealth fund, which is chaired by Greg Combet and manages more than $250 billion in assets, said the vote against executive and board pay at a range of companies from the Australian Securities Exchange, Mineral Resources to casino operator, the Star, was driven by a concern about a disconnect between pay and performance, as well as disclosure.
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