Moneyweb reports that EOH Holdings is in the crosshairs over executive pay, with an astonishing 65% of shareholders voting against the group’s remuneration policy and its implementation at last Thursday’s annual general meeting (AGM).  

The resolutions are both non-binding, but given that they both failed to achieve 75% of votes in favour (both votes also failed at the last AGM), the group is required to formally engage with dissenting shareholders.  The company said it had “already commenced engagement with the dissenting shareholders who have reached out to the company to share their concerns on both the remuneration policy and remuneration implementation report and will continue to do so”.  EOH’s remuneration report disclosed precious little about the criteria used to gauge performance on both short- and long-term incentives.  On the former, it referred only to those being “linked to KPIs [key performance indicators] delivered annually measured against objectives and targets”.  In 2019, there were two specific criteria set, but there were no details on how the various executives fared against those.  But given the scale of the turnaround at EOH, the board can arguably be forgiven for not attempting an overhaul of the policy over the past year as there were far more pressing issues that required attention.  The group said “an enhanced focus on remuneration will be prioritised during the upcoming financial year”.

• Read the full original of the report in the above regard by Hilton Tarrant at Moneyweb
• Read too, EOH shareholders vote against salary policies, at Business Report

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