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Rolling with the punches: NextDC braces for another strike against pay
NextDC braces for a second pay strike as governance firm CGI Glass Lewis urges investors to vote against its remuneration report.
Key points
- CGI Glass Lewis is urging investors to vote against NextDC's remuneration report.
- The advice says the board's response to last year's pay strike was inadequate.
- The source also cites recent operational woes and a stark misalignment between pay and performance.
Why it matters. A second strike against pay at the annual meeting, 18 days away, could increase pressure on NextDC's board over its remuneration report.
Governance firm CGI Glass Lewis is urging investors to vote against NextDC's remuneration report at the data centre operator's annual shareholder meeting, due in 18 days. It cites an inadequate board response to last year's pay strike, recent operational woes, and a stark misalignment between remuneration and performance. A second strike would be a fresh blow for the Craig Scroggie-led company unless the board acts swiftly enough to avoid it.
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Rolling with the punches: NextDC braces for another strike against pay
There’s no respite for the Craig Scroggie-led company as an upcoming vote on a generous remuneration structure for executives is set to go down to the wire. The hits keep on coming at Craig Scroggie-led data centre owner NextDC. And another blow may be delivered in just 18 days if the company’s board has not manoeuvred strategically and swiftly enough to avoid a second strike against pay at its upcoming annual shareholder meeting. Influential governance firm CGI Glass Lewis is already urging investors to vote against NextDC’s remuneration report. That’s based on what CGI deems an inadequate response by the board to last year’s strike, recent operational woes, and a stark misalignment between remuneration and performance. Subscribe to gift this article Gift articles to anyone you choose each month when you subscribe. Fetching latest articles.