Nine Entertainment will face the prospect of a second strike at its annual general meeting next month after influential proxy adviser CGI Glass Lewis urged investors to vote against the company's remuneration report.
In a report obtained by Capital Brief, CGI Glass Lewis criticised the high fixed pay awarded to Nine’s CEO, Matt Stanton, and went further by recommending investors vote against resolutions that would grant him equity through 2025 and 2026.
However, the firm stopped short of advising investors to vote for a board spill.
“We note that following his appointment as Chief Financial and Strategy Officer in August 2023, Mr Matthew Stanton’s fixed remuneration was A$830,000. The Company has since decided to offer Mr Stanton a fixed pay of A$1,600,000 in his role as MD/CEO, which is almost double the pay in his former role,” CGI Glass Lewis wrote in its report.
