Kyle and Jackie O’s former boss gets historically smoked by angry shareholders |
Kyle and Jackie O’s former boss gets historically smoked by angry shareholders
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Riddle us this. Hamish “The Hammer” McLennan, the chairman of Kyle Sandilands and Jackie O Henderson’s former employer, suffered a 90 per cent protest vote against the pay deal he proposed for his executive team.
But somehow, only 20 per cent of shareholders issued a proxy vote against McLennan’s own position on the board.
Regular readers of this column will no doubt recall that CBD first brought word of the prospect of a vote against KIIS network owner ARN’s plans for executive pay last month. Back then, we revealed that the influential proxy advisor CGI Glass Lewis had taken aim at the pay packet of ARN’s chief executive and former Nine sales guy Michael Stephenson, which clocks in at a cool $1.1 million. The company, by contrast, is only worth $81 million.
But even we couldn’t have predicted a protest vote so big. The last time we recall seeing........