Rats in the ranks

MYOB's board is bracing for a backlash at today’s annual meeting as shareholders prepare to nix chief executive Craig Winkler's performance bonus – apparently as payback for a failed private equity deal.

MYOB is a company that has been performing well and whose shares are trading at around their highest levels since the dot com bubble burst at the start of the decade.

The 1.2 million options that could be delivered to its CEO, Craig Winkler, would be exercisable (subject to him meeting hurdles dependent on earnings per share growth and total shareholder returns) in tranches between 2011 and 2013.

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