NZSA to vote against Summerset director fee rise

Thu, 23 Apr 2020

The New Zealand Shareholders' Association said it will vote its proxies against an increase in fees for Summerset Group directors.Summerset wants to increase the directors' fee pool by $72,000 to $840,000 to provide headroom to compensate directors for work beyond their normal duties.NZSA noted that Summerset's directors – as well as senior executives and head office staff – have taken a 20 percent pay cut as part of the company's measures to deal with the coronavirus crisis."Accordingly, NZSA views any increase...

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