Friday, November 09, 2007

Telstra - the shareholders are revolting

For the benefit of international readers, Telstra is Australia's major telco and one of Australia's largest public companies. It has also just suffered the major embarrassment of having shareholders reject the remuneration package for its CEO.

The vote is not binding, but is still places the board in a difficult position. Could the board have avoided the problem? Probably, but only if it had been far more open than appears to have been the case.

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