ANZ's Outgoing CEO Takes Further $1.4 Million Hit to Bonus [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
a resolution to grant him stock was likely to be voted down by shareholders at its annual general meeting. Most Read from Bloomberg NYPD Car Chases Are Becoming More Frequent — and More Dangerous It'll mean he forgoes about A$2.3 million ($1.4 million) on top of A$1.1 million he already lost. The firm scrapped the resolution dealing with pay for the soon-to-retire CEO just minutes before the AGM began Thursday. That marked a concession to calls from proxy firms and the nation's top pension association for Elliott to take a further hit to compensation following a series of scandals in the company's markets division. It wraps a tumultuous year for Elliott, who's had to defend the firm's reputation in front of parliament and will leave in July after nine years at the top. “The board and the organization feel very clearly that getting to the bottom of the issues associated with markets and some of those allegations is really important,” ANZ Chairman Paul O'Sullivan said at the A
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