ANZ shareholders reject executive pay plan for second year in a row

More than 32% of shareholder votes oppose executive pay report at heated Sydney AGM, after a year when bank was fined $240m by the financial regulatorANZ shareholders delivered a “second strike” against the bank’s executive pay plans at a heated annual general meeting on Thursday, amid simmering anger over a string of regulatory breaches that included failing to refund fees charged to thousands of dead customers.The bank was recently hit with a record $240m in penalties to settle four investigations by the corporate regulator into widespread misconduct that put public funds at risk, and affected tens of thousands of customers. Continue reading…