Telstra is bracing for a revolt over executive pay as shareholders and proxy advisers question the wisdom of giving bonuses at a time when the telecommunications giant's share price has crashed and it is showing 8000 staff the door.
Powerful proxy advisors CGI Glass Lewis, ISS and Ownership Matters have all recommended voting against Telstra's remuneration report at the telco's annual general meeting next Tuesday.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
