The ANZ Bank’s 2016 annual report shows that the remuneration of former CEO Mike Smith totalled almost $A10 million in 2015-16, including $A2.4 million in cash. He was paid almost $A100 million between 2007 and 2016. Shareholders are increasingly sceptical as to whether CEOs deserve huge salaries. Commonwealth Bank shareholders may use its AGM on 9 November 2016 to vent their frustration and opt for a “strike” against its remuneration report.
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