GuerdonNews® Volume 14 Number 8

September 2018

Dear reader,

 

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Welcome to the September 2018 issue of GuerdonNews®

 

 In this month's newsletter we:

• Note the ATO's support for non-executive director fee sacrifice plans via a class ruling.

• Wonder at the extent Australian CEO remuneration can fall below global peers.

• Juxtapose APRA’s opposition against investor support with certain elements of banker remuneration.

• Describe ASIC’s plans to look over directors' shoulders at board meetings.

• Find the similarities in new German executive remuneration guidelines indicating global convergence in standards

We conclude by  executive and director remuneration disclosure updates available on the GuerdonData® on-line database.

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ATO class ruling supports NED fee sacrifice plans

Yet few ASX listed companies have them 

It was November 2015, within a few week of tax rule changes, that we first advised company boards how much easier it was to sacrifice board fees in equity on a pre-tax basis. The Commissioner of Taxation recently confirmed the effectiveness of these arrangements. 

Read more

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Remuneration for externally appointed executives from offshore 

Do Australian CEOs represent good value for money, or do you get what you pay for? 

A benchmarking study by the University of Melbourne indicates that on a global basis Australian executives are paid less than their global peers

Read more

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APRA's frustration with executive remuneration practices evident

Perhaps APRA should fight it out with institutional investors rather than rap director knuckles 

APRA chairman Wayne Biers has expressed frustration over boards' resistance to change executive remuneration and culture policies. 

Read more

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Corporate governance tests loom

ASIC to look over your shoulder. 

ASIC will be conducting more intense monitoring of boards’ corporate governance practices, both inside and outside the financial services sector.  

Read more

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Executive pay caps, ratios and sustainability

Germans converge with the Brits and others. 

In the wake of the UK’s Financial Reporting Council review of its governance code the Germans have published the findings of their own working group. 

Read more

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Remuneration and governance - know anyone brilliant who is not already with us?

Guerdon Associates services are in ever higher demand. 

To meet the demand we need more people. But not ordinary people. We need people technically adept, capable of innovation, and who can work as part of a great team to properly analyse, identify and consider our clients’ issues, develop alternative solutions with a critical mindset to identify pros and cons, work with them to prioritise action, and assist on Implementation. We have vacancies at all levels - principals, consultants and analysts.

Contact us at careers@guerdonassociates.com.

 

Latest GuerdonData® Updates

Updates to GuerdonData®  this month include disclosures from the following 175 companies: 

ABACUS PROPERTY GROUP, ACCENT GROUP LIMITED, AFTERPAY TOUCH GROUP LIMITED, AINSWORTH GAME TECHNOLOGY LIMITED, ALTIUM LIMITED, AMA GROUP LTD, AMAYSIM LTD, ANSELL LIMITED, ARB CORPORATION LIMITED, ARDENT LEISURE GROUP, ARENA REIT STAPLED, ASX LIMITED, AURIZON HOLDINGS LIMITED, AUSDRILL LIMITED, AUSTAL LIMITED, AGL, AUSTRALIAN PIPELINE TRUST, AVEO GROUP, BEACH PETROLEUM LIMITED, BEGA CHEESE LIMITED, BELLAMY'S AUSTRALIA LIMITED, BINGO INDUSTRIES LIMITED, BLACKMORES LIMITED, BLUE SKY LTD, BLUESCOPE STEEL LIMITED, BRAMBLES INDUSTRIES LIMITED, BRAVURA SOLUTIONS LIMITED, BREVILLE GROUP LTD, BURSON GROUP LIMITED, BWX LIMITED, CABCHARGE AUSTRALIA LIMITED, CARDNO LIMITED, CARSALES.COM LIMITED, CEDAR WOODS PROPERTIES LIMITED, CHALLENGER LTD, CHARTER HALL GROUP, CHORUS LIMITED, CLASS LIMITED, CLEAN TEQ HOLDINGS LIMITED, CLEANAWAY WASTE MANAGEMENT LIMITED, COCHLEAR LIMITED, COMMONWEALTH BANK OF AUSTRALIA, COOPER ENERGY LIMITED, CORPORATE TRAVEL MANAGEMENT LIMITED, COSTA GROUP HOLDINGS LIMITED, CROMWELL PROPERTY GROUP, CSL LIMITED, DEXUS PROPERTY GROUP, DOMAIN HOLDINGS AUSTRALIA LIMITED, DOMINO'S PIZZA ENTERPRISES LIMITED, DOWNER EDI LIMITED, EMECO HOLDINGS LIMITED, EML PAYMENTS LIMITED, ERM POWER LIMITED, ESTIA HEALTH LIMITED, EVOLUTION MINING LIMITED,FAIRFAX MEDIA LIMITED, FLETCHER BUILDING LIMITED, FLIGHT CENTRE LIMITED, FREEDOM FOODS GROUP LIMITED, GATEWAY LIFESTYLE GROUP STAPLED, GBST HOLDINGS LIMITED, GDI PROPERTY GROUP, GOODMAN GROUP, GREENCROSS LIMITED, GROWTHPOINT PROPERTIES AUSTRALIA, GWA GROUP LTD, HANSEN TECHNOLOGIES LIMITED, HEALTHSCOPE LIMITED, HOTEL PROPERTY INVESTMENTS STAPLED, HUB24 LIMITED, IDP EDUCATION LTD, IMDEX LIMITED, IMF (AUSTRALIA) LTD, IMPEDIMED LIMITED, INDEPENDENCE GROUP NL, INFIGEN ENERGY, INFOMEDIA LIMITED, INGENIA COMMUNITIES GROUP, INGHAMS GROUP, INSURANCE AUSTRALIA GROUP LIMITED, INTEGRATED RESEARCH LIMITED, IOOF HOLDINGS LIMITED, IPH LIMITED, ISELECT LIMITED, ISENTIA GROUP LIMITED, JAPARA HEALTHCARE LIMITED, JB HI-FI LIMITED, LEND LEASE CORPORATION LIMITED, LINK ADMINISTRATION HOLDINGS LIMITED, LOVISA HOLDINGS LIMITED, MAGELLAN FINANCIAL GROUP LIMITED, MAYNE PHARMA GROUP LIMITED, MCMILLAN SHAKESPEARE LIMITED, MEDIBANK PRIVATE LIMITED, MESOBLAST LIMITED, METALS X LIMITED, MINERAL RESOURCES LIMITED, MIRVAC GROUP, MONADELPHOUS GROUP LIMITED, MONASH IVF GROUP LIMITED, MORTGAGE CHOICE LIMITED, MYSTATE LIMITED, NANOSONICS LIMITED, NATIONAL STORAGE REIT, NAVIGATOR GLOBAL INVESTMENTS LIMITED, NAVITAS LIMITED, NETCOMM WIRELESS LIMITED, NETWEALTH GROUP, NEWCREST MINING LIMITED, NEXTDC LTD, NIB HOLDINGS LIMITED, NICK SCALI LIMITED, NINE ENTERTAINMENT CO. HOLDINGS LIMITED, NORTHERN STAR RESOURCES LTD, NRW HOLDINGS LIMITED, ORIGIN ENERGY LIMITED, OROCOBRE LIMITED, PACT GROUP HOLDINGS LTD, PERPETUAL LIMITED, PERSEUS MINING LIMITED, PILBARA MIN LTD, PLATINUM ASSET MANAGEMENT LIMITED, PRO MEDICUS LIMITED, PROPERTYLINK GROUP STAPLED SECURITIES, QANTAS AIRWAYS LIMITED, QUBE HOLDINGS LIMITED, RCR TOMLINSON LIMITED, REGIS HEALTHCARE LIMITED, REGIS RESOURCES LIMITED, RELIANCE WORLDWIDE CORPORATION LIMITED, RESOLUTE MINING LIMITED, RETAIL FOOD GROUP LIMITED, SANDFIRE RESOURCES NL, SARACEN MINERAL HOLDINGS LTD, SCOTT PAC GROUP LTD, SEALINK TRAVEL GROUP, SEEK LIMITED, SELECT HARVESTS LIMITED, SENEX ENERGY LIMITED, SERVCORP LIMITED, SERVICE STREAM LIMITED, SEVEN GROUP HOLDINGS LIMITED, SEVEN WEST MEDIA LTD, SG FLEET GROUP LIMITED, SILVER LAKE RESOURCES LIMITED, SIMS METAL MANAGEMENT LIMITED, SIRTEX MEDICAL LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED, SPARK NEW ZEALAND LIMITED, ST BARBARA LIMITED, STARPHARMA HOLDINGS LIMITED, STEADFAST GROUP LIMITED, STOCKLAND, SUNCORP GROUP LIMITED, SUPER CHEAP AUTO GROUP LIMITED, SUPERLOOP LTD, TABCORP HOLDINGS LIMITED, TASSAL GROUP LIMITED, TELSTRA CORPORATION LIMITED, THE STAR ENTERTAINMENT GROUP LIMITED, TRADE ME GROUP LIMITED, TRANSURBAN GROUP, TREASURY WINE ESTATES LIMITED, VICINITY CENTRES STAPLED, VILLA WORLD LIMITED, VIRTUS HEALTH LIMITED, VITA GROUP LIMITED, VOCUS COMMUNICATIONS LIMITED, WEBJET LIMITED, WESTERN AREAS NL, WESTGOLD RESOURCES, WHITEHAVEN COAL LTD, WOOLWORTHS LIMITED, WORLEYPARSONS LIMITED.

Executive and director remuneration data from all ASX 300 companies on GuerdonData® is available to any subscriber. Visit our website for more information on GuerdonData®.

Assess how easily you can find out director and executive pay information by viewing our 6 minute demo HERE.

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ISSN 1834-8300