By Harvard Business Review

 

On November 9, 2016, the shareholders of Australia’s largest company, and the world’s tenth-largest bank, revolted. The Commonwealth Bank’s shareholders were reacting to the board’s annual Remuneration Report, which contained a recommendation that the CEO be granted a bonus based on what critics saw as “soft” measures. Other firms have ventured down this path, including the conglomerate Wesfarmers, with its 200,000-plus staff, and the global hospital operator Ramsay Health Care.

 

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Publication category: CEO