BusinessLive reports that Anglo American avoided a second public relations disaster as 93% of its shareholders voted in favour of the group’s amended remuneration policy at Tuesday’s annual general meeting.  

At the AGM in 2016, a record 41% of shareholders voted against the policy. Shareholders were particularly angry about the effect of the valuable long-term incentive plan.  CEO Mark Cutifani promised to listen to shareholders’ concerns and the board undertook to overhaul the remuneration policy.  The revised policy now reduces the scope for executives to score huge packages on the back of surging commodity prices or favourable exchange rate movements.  Although the voting results indicated shareholders were generally happier this year, those who attended witnessed a number of stakeholders from across the globe describing a less happy picture.  Shareholder activist Theo Botha attended to find out why the group did not provide more information on fatalities, which after years of decline had increased in 2016.  Members of the National Union of Mineworkers (NUM) asked for details about possible payouts from the silicosis fund.

• Read this report by Ann Crotty in full at BusinessLive

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