Changing of the guard at Rio Tinto
Kym Sheehan
The Executive Remuneration Reporter
Yesterday's announcement of Sam Walsh's retirement on 1 July 2016 and Jean-Sebastien Jacques' appointment as Deputy CEO and Board member from 17 March 2016 and Group CEO from 2 July 2016 provided clear disclosure on the remuneration decisions for both. I take a look at these decisions in this note. (VIEW LINK) Perhaps the one decision I question is the granting of FY16 LTIP award to Mr Walsh on 11 March 2016, less than one week before yesterday's announcement. While pro-rated vesting will apply to the grant, the policy position still provides potential for a significant benefit when the LTIP vests in 4 and 5 years time.
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter.
The Executive Remuneration Reporter analyses and advises on remuneration-related resolutions as well as other meeting resolutions (director elections, constitutional, capital maintenance, auditor appointment/removals) at ASX Listed Companies. Learn more about Our Approach https://subscriber.theexecutiveremunerationreporter.com.au/our-approach
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Kym Sheehan
The Executive Remuneration Reporter
With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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No areas of expertise
Kym Sheehan
The Executive Remuneration Reporter
With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
Expertise
No areas of expertise
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