Lendlease has avoided a second strike against its remuneration report at its annual general meeting on Friday, convincing shareholders that it has found a path forward from poor financial results by focusing on its Australian business.
A second strike – or two consecutive annual protest votes of 25 per cent or more against its remuneration report – would have led to a spill motion over whether to dissolve the board.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter. Email Campbell at campbell.kwan@afr.com
