2018 focus issues

Each year, ASA releases a list of issues it will focus on throughout the year.

ASA's focus issues for 2018 are: 
Remuneration disclosure: Long-term incentive schemes should require behaviour that is measured cumulatively or on average over a number of years, preferably four or five: 
  • We will oppose schemes where the only hurdle after the first year is role retention.
  • Market value should be used to calculate LTI grants, not fair value.
  • A table of actual CEO and KMP take-home remuneration should be provided in the remuneration report.
Skin in the game: Enhance board and executive alignment with shareholders via shareholding requirements: 
  • A non-executive director who has served three years on a board should have invested one year’s fees in the company’s shares.
  • A CEO should have invested one year’s fixed remuneration in the company’s shares after five years. 
Board composition: Companies should have an independent chairman, a majority of independent directors, only one executive director and boards should be comprised of at least 30% female directors and at least 30% male directors.
Shareholder participation: Companies should maximise shareholder information and engagement through data releases of the number of shareholders:
  • voting on AGM resolutions, including a break-down of for and against, as in a scheme of arrangement vote
  • participating in capital raisings, including trading renounceable rights