Media Releases

Fifteen years after its introduction, Australia’s Two Strikes Rule on executive pay is supporting stronger accountability and better alignment according to new research from the Australian Council of Superannuation Investors (ACSI).

ACSI says the next edition of the ASX Corporate Governance Principles and Recommendations should set a more contemporary benchmark for gender balance on Australian boards.

US-based companies have staked their claim to the biggest salaries in the ASX, with five out of the top 10 highest earners this year CEOs of US-domiciled companies, according to ACSI’s latest research on CEO pay in ASX200 companies. It’s the first time in the history of this study that CEOs outside Australia have taken half of the top ten spots, although US-based CEOs have always featured.

ACSI is pleased to announce that David Whiteley, Global Head of External Relations at IFM, has been appointed its new President. Mr Whiteley takes over the role from outgoing HESTA CEO Debby Blakey.

It is critical that the ASX continue to address issues identified to improve governance and rebuild trust. That includes the trust of regulators and market participants as well as long-term investors.

Existing principles have been refined in this 12th edition of the Governance Guidelines to highlight the importance of succession planning, the governance of Artificial Intelligence, culture, workforce and diversity and strengthening the ties between board skills and experience, succession and election.

Ensuring shareholders have a voice in material corporate actions is fundamental to fair, transparent and trusted markets. ACSI supports efforts to close the loophole in the current listing rules that have allowed dilutive transactions to occur without a shareholder vote.

ACSI and the AICD launch first of its kind guidance to support boards and investors in navigating the complexities of climate transition planning.

Termination payments to CEOs of Australia’s largest listed companies have shrunk to their lowest levels in 15 years, with the research also showing ASX100 CEO fixed and total realised pay has been largely flat over the past decade.