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ASX 50 Mining Services business

An ASX listed company frustrated by multiple votes against its remuneration report turned to Juno Partners to resolve this value-destroying distraction.


Despite a spectacular record of wealth creation for shareholders, this ASX listed mining services firm suffered repeated votes against its Remuneration Report.  

Juno Partners worked with the Board to put in place a series of changes that have resulted in widespread shareholder & management support and a crucial re-rating by institutional investors.

The problem

Our client has consistently been one of the highest performing stocks in the ASX300 over the past 15 years.  Yet despite creating enormous wealth for shareholders, it suffered repeated votes against its remuneration report.  

Remuneration became a significant distraction for the Board as they attempted to appease the demands of investors and proxy advisors while trying to maintain the entrepreneurial approach to rewards that had been the fuel of its early growth.

The solution

Following Juno Partners appointment as remuneration advisors, a review of remuneration practice for Key Management Personnel (KMP) and non-executive directors was conducted that included interviews with proxy advisors and key investors and a review of remuneration practice at peer companies.

Drawing on this and Juno Partners' wider experience, a detailed plan for change was developed and put in place over a number of years.

The company’s remuneration of KMP and non-executive directors now has widespread investor and proxy advisor support and a more widely diversified shareholder base, as investors who previously screened out the business on the basis of its corporate governance performance have joined the register.

We provide ongoing independent advice to the Board on matters of KMP and director remuneration, including benchmarking, incentive structures, target setting and proxy advisor and investor communication.

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