2017 focus issues
Each year, ASA releases a list of issues it will focus on throughout the year.
ASA's focus issues for 2017 are:
- Remuneration disclosure: Disclosure of quality information regarding STI performance metrics and actual outcomes as measured against those metrics for the CEO and KMP. Inclusion of a table of actual take home remuneration for the CEO and KMP and use of “market value” rather than “fair value” in calculating LTI grants.
- Skin in the game: Board and executive alignment with shareholders, including that a non-executive director who has served 3 years on a board should have invested one year’s fees in the company’s shares and that a CEO should have invested one year’s fixed remuneration in the company’s shares after 5 years.
- Board composition: Companies to have an independent chairman, a majority of independent directors, only one executive director and boards should be comprised of at least 30% female directors.
- Fairness in capital raisings: Companies to ensure retail shareholders have adequate time and opportunity to participate equitably in capital raisings and to reduce the extent of any dilution to the holdings of retail shareholders.