Australia’s ALS, one of world’s top testing companies, saw profits trim.
Former CEO Raj Naran agreed with board to relinquish share rights.
Earnings were within market expectations.
The former chief executive of ALS has relinquished up to $6 million in potential bonuses following a backlash against pay at the Brisbane-based testing giant.
Raj Naran, who resigned from ALS suddenly last year due to family illness, agreed to forfeit his long-term potential bonus shares in return for a shortened non-compete period.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
