There are some noteworthy AGMs coming up in April and May, and that means opportunity for Stephen Mayne to shine a torch at executive salaries and boardroom behaviour.
In this opinion piece for Fairfax papers, Mayne predicts the excessive salaries being paid to key Lowy family executives will trigger shareholder revolt at the Westfield AGM. Protest votes are also expected to increase due to the heavy weighting of the board in favour of either people called Lowy or their buddies.
Mayne also questions the eligibility of AMP board candidates, and speculates that Sir Rod Eddington will be re-elected to the Rio board only due to Chinalco s voting power.
Stocks for your watchlist:
Westfield Holdings: WSF.AX (ASX)
AMP Ltd: AMP.AX (ASX); AMP.NZ (NZX)
Rio Tinto: RIO.AX (ASX); RIO.L (LSE)