Agribusiness group Elders has been hit with a large protest vote on its remuneration practices, with chairman Ian Wilton forced to defend the company against accusations of a botched succession planning process.
Elders suffered a first strike at its annual meeting on Thursday with 62.8 per cent of shareholders voting against the remuneration report resolution, easily topping the 25 per cent benchmark which triggers a first strike.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
