Annual Remuneration and Governance Forum program available, invitations sent, and Sydney registrations almost full

The annual board director, institutional investor, regulator and management Remuneration and Governance Forum will be held next week in Sydney on Tuesday 11 March, and in Perth on Monday 17 March. Speakers and panellists include prominent non-executive directors, institutional investors and industry bodies such as the Australian Council of Superannuation Investors (“ACSI”).

After an overview of global governance trends by the CEO of Glass Lewis, the first Sydney panel will be reviewing the tendency by proxy advisers to rely on analyst forecasts in assessing company incentive plans, and whether this is appropriate. Panelists include Pru Bennett from Blackrock, John Curtis, deputy chairman of Westpac and chairman of Allianz Australia, Andrew Sisson of Balanced Equity Management, and Michael Robinson of Guerdon Associates.

Sydney’s second panel will focus on the issue that is moving to replace executive pay as a key focus of investor engagement – board renewal. Investors are becoming less than shy broaching this issue with chairmen as they do the rounds regarding the remuneration report. Most are caught short. This trend will become more evident as companies will be required to disclose more under new ASX Governance Council guidelines (see HERE and HERE). Panellists include Ros McKay of Victorian Funds Management Corporation, Kevin McCann, chairman of Macquarie Group, Jane Stuchberry of Guerdon Associates and Aaron Bertinetti of CGI Glass Lewis.

The Sydney Forum will close with a discussion with ACSI head Gordon Hagart and David Gonski, chair of Coca Cola Amatil and director of Singapore Telecommunications and ANZ, on the rise of shareholder activism and the challenges this presents for company boards.

In Perth there are two panels. The first addresses the use of milestone incentive targets and the extent that these are acceptable to investors. Panellists include Bridget Murphy, Director, CGI Glass Lewis, Craig Readhead, Chairman of Beadell Resources Limited and Heron Resources Limited, NED of General Mining Corporation and Redbank Copper Limited, Michael Robinson, Director, Guerdon Associates, Pru Bennett, Director – Head of Asia Pacific Corporate Governance and Responsible Investment, BlackRock and Rick Crabb, Chairman of Paladin Energy Limited, Golden Rim Resources Limited, Otto Energy Limited and Platypus Minerals Limited.

The second Perth panel addresses board renewal, as per the Sydney program, and includes Aaron Bertinetti, Director, CGI Glass Lewis, Greg Martin, NED of Santos Limited, Energy Developments Limited and Chairman of Iluka Resources Limited, Jane Stuchberry, Principal, Guerdon Associates and Jenny Seabrook, NED of Iluka Resources Limited and IRESS Limited

The Forums will build on the goodwill, progress and outcomes achieved in previous Forums and provide for a frank and practical exchange of views between board directors, company executives, regulators and institutional investors. As usual, sessions will include a panel discussion and Q&A, and the Chatham House Rule will apply to facilitate frank and open debate.

The Perth Forum has had a good response from company directors and management, so do not leave it too late to book a spot. As of Monday 3 March 2014, the Sydney Forum is almost a full house, so please respond to your invitations quickly to reserve a place.

© Guerdon Associates 2024
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