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Tips and rumours

Nov 16, 2016

Was Bruce Gordon behind the first strike against Nine's remuneration report?

Reports today suggest shareholders are unhappy with the pay of the executives at Nine Entertainment, but was it just one powerful shareholder?

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Don’t believe all the stories this morning claiming that Nine Entertainment came close to a first strike against its remuneration report as “shareholders railed against the high pay awarded to executive and non-executive directors despite the broadcaster’s disappointing performance”. Yes, more than 21% of votes went against Nine’s remuneration report and more than 19% opposed the resolution on performance rights to chief executive Hugh Marks. But it could be due to an attempted “revenge” attack on the company by its once long-time regional affiliate, Bruce Gordon.

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