In the sleepy annals of Australian shareholder democracy, widespread and broadly representative shareholder revolts are exceedingly rare.
There’s a reason the Corporations Act requires only 25 per cent of votes to be cast against a remuneration report to constitute a “strike”. Anything higher would seldom be reached, leaving boards with little to fear.
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Myriam Robin is Rear Window editor based in the Melbourne newsroom. A Rear Window columnist since 2017, she previously reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
