Fortescue Metals Group’s remuneration report was supported by 89.46 per cent of votes cast at the AGM on 9 November 2016. Proxy adviser Institutional Shareholder Services had recommended that shareholders vote in favour of the remuneration report, although it expressed concern about the pure-play iron ore producer’s bonus system for executives. Ownership Matters also questioned whether Fortescue executives should have benefited from a long-term incentive scheme.
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