GuerdonNews® Volume 15 Number 5

June 2019

Dear reader,

 

Welcome to the June 2019 issue of GuerdonNews®

 

 In this newsletter we:

• Summarise APRA's assessment of 36 company self-assessments, with learnings for remuneration and culture

• Describe ISS' research on CEO shareholdings relationship to performance and governance 

• Provide an end of financial year checklist for remuneration committee chairs

• Are fascinated with a US company's attempt to clawback executive pay because of a negligent "tone at the top" 

 

We conclude with executive and director remuneration disclosure updates available on the GuerdonData® on-line database. And if there if there is any other executive remuneration or governance query you have type it into your search engine with "Guerdon Associates" and you will find we will surely have provided an answer already.

APRA’s findings on company boards’ self-assessment

Learnings for all boards on assessing remuneration and culture effectiveness 

Companies conducted incomplete remuneration framework effectiveness reviews. Their assessment of culture was also less than adequate for most. APRA’s report specified areas for improvement: board oversight, provision of risk information, non-financial metrics, risk reporting and the wielding of malus and clawback..

Read more

Do CEO shareholdings relate to performance and governance? 

ISS presents its research findings

ISS examines corporate governance and performance in relation to CEO shareholdings. ISS supported earlier Guerdon Associates' research in finding a relationship between ownership and performance. ISS also found that there is no relationship between CEO voting power and company performance, but it sure makes a difference in terms of governance. 

Read more

A year-end checklist for the Remuneration Committee Chair 

Items of note for the RemCo chair  

A summary of what needs to have been completed as the financial year winds down.

Read more

What is "tone at the top"? 

A US company tests the waters for clawing back executive pay

Hertz launches a legal challenge against its former top executives, claiming that they did not set the appropriate “tone at the top”, resulting in accounting errors that forced restatement of accounts, and SEC settlement and a class action lawsuit. 

Read more

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Latest GuerdonData® Updates

Updates to GuerdonData®  this month include disclosures from the following 11 companies: 

Ausnet Services Ltd, ALS Ltd, OFX Group Ltd, Australian Agricultural Company Ltd, CSR Ltd, James Hardie Industries plc, Fisher & Paykel Healthcare Corporation Ltd, Xero Ltd, Jupiter Mines Ltd, Pendal Group Ltd, OM Holdings Ltd 

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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The information, analysis and opinion in this e-mail and attachments are intended to be for informational purposes only. Analyses are based on information taken from public documents or private surveys, and we do not represent to its accuracy. Guerdon Associates assumes no liability for the use or interpretation of information contained herein. This publication is provided 'as is' without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of marketability, fitness for a particular purpose, or non-infringement of third party rights.

Copyright © 2019 Guerdon Associates

ISSN 1834-8300