Skellerup versus the biggest global proxy advisor

Institutional Shareholder Services says Skellerup boss David Mair's "substantial" pay rise "could be seen as excessive". (Image: Skellerup)

Rebecca Stevenson

Wed, 08 Nov 2023

Skellerup is at the centre of a corporate governance stoush, with a global institutional advisor raising concerns over uncapped bonuses for its chief executive and his “substantial” pay rise and the independence of its board. Institutional Shareholder Services (ISS) issued a report to its client shareholders before Skellerup held its annual general meeting (AGM) on Oct 25. ISS operates as a proxy house and institutional advisor, giving its shareholder clients, such as Kiwi Wealth and the New Zealand Super Fund, advice on v...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Property

Ryman Healthcare taps investors for $1b

The $3.05 per share price is at an almost 30% discount.

Gregor Thompson 9:55am

The Quiz Free

QuiznessDesk, Monday, Feb 24

Test your smarts in our daily quiz.

The Quizmaster 9:15am

Technology

Ministry of Awesome's startup lessons

Big business is recognising it needs to get better at innovation.

Greg Hurrell 5:00am

Sponsored

A taste of NZ luxury at 40,000ft

Singapore Airlines upgrades in-flight dining with Sid Sahrawat.

Singapore Airlines

Sponsored

Study NZ’s top MBA – on your terms

A world-class master's that fits around work and family life.

University of Aukland Business School

More Markets

Markets

Chorus reports a 1H net loss

Chorus says the soft economy drew customers to cheaper plans and caused a drop-off in new property development, which hit its new-install revenue.The ultra-fast broadband network operator swung to a first-half net loss of $5 million from a $5m profit for H124 on flat Ebitda ($346...

Staff reporters 10:40am

Property