Proxy adviser Ownership Matters has recommended its clients vote against Clinuvel Pharmaceuticals’ remuneration report at the company’s annual meeting on October 26.

Chief executive Philippe Wolgen’s fixed pay in financial 2022 equated to 5.5 per cent of Clinuvel’s revenue and 10.6 per cent of its pre-tax profit. Wolgen’s scandalously outsized rewards – at the 2019 AGM he was awarded $44 million of zero-priced options, the largest ever allocation to an ASX 300 CEO – is a matter of record.