The Australian, 9 Jul 2009
SINGAPORE-BACKED SP AusNet has defended a 60 per cent jump in annual remuneration for its managing director despite a fall in the company's security price and profit over 2008-09.
Stapled security holders gathered yesterday for the company's annual general meeting in Melbourne to vote on its remuneration report and other resolutions and to hear a yearly update from its key executives.
SP AusNet remuneration committee chairman George Lefroy told the meeting he was aware of investor concerns about the plan to increase managing director Nino Ficcau's annual pay.
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