Newcrest Mining 2015 AGM

Newcrest Mining's 2015 AGM on Thursday 29 October 2015 features the conditional Board Spill resolution. With a first strike of 45% against its remuneration report at the 2014 AGM, a lot rides on its response to the first strike. Having a different year of performance in FY2015 helps. Making changes to aspects of its remuneration scheme helps. However a problem remains in how it sets performance targets in the STI scheme, specifically the threshold level of performance at which vesting begins to happen. This is not simply about using underlying performance measures. It's about setting STI thresholds significantly lower than actual performance in the pcp. This note from the time of release of its FY2015 results explains. (VIEW LINK)