The leading proxy advisory firm that offered qualified approval for Todd Sampson remaining on Qantas’ board last year is now in a rather more punishing mood. It would have shareholders vote out long-serving board member and ex-Cathay Pacific executive Antony Tyler.
Such, we suppose, are the prerogatives of the nation’s major proxy advice firms, who provide AGM voting recommendations to subscribing institutional investors. Arguing against boards, executives and their high-powered lawyers on things like director elections and corporate pay is not always easy, and some see red at the fact that various proxy firms do not always agree with each other. There’s no reason they should. Though, it would be nice if governance analysts, at least, agreed each with themselves.