Alumina's management: over rated, over paid

To most, the ‘two strike rule’ sounds like a complexity that belongs in baseball or an obscurity from bowling. To the management of some of Australia’s largest businesses, however, the two-strike rule is far more important.It refers to a law introduced by regulators that allows shareholder to vote on remuneration. If more than 25% of the vote is registered against the remuneration of management, one strike is recorded. If that vote is repeated in the following year, two strikes are recorded.This triggers automatic re-election of directors. It is supposed to be a way for shareholders to hold directors to account...

To most, the ‘two strike rule’ sounds like a complexity that belongs in baseball or an obscurity from bowling. To the management of some of Australia’s largest businesses, however, the two-strike rule is far more important.

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