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Transurban shareholders join executive pay revolt

Transurban shareholders join executive pay revolt

Toll road operator Transurban (ASX:TCL) yesterday narrowly squeezed through its remuneration report, as a number of its shareholders joined the revolt on executive pay.

Proxy voters had voted to reject the report by a margin of nearly two to one, according to an ASX filing.

But after a floor poll, the motion to adopt the report was passed by 477.1 million votes to 426.3 million.

Transurban CEO Chris Lynch reportedly received a $3 million sign-on fee last year, while CFO Tom Honan collected nearly $4 million for nine months’ work.

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Tags executive payTransportTransurban

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