It wasn’t just WiseTech Global’s billionaire chairman, Richard White, facing the heat this year. The boards of the ASX’s big tech stocks faced the fiercest collective rebuke from shareholders of any sector at annual meetings, with the highest rate of votes against remuneration across the bourse.
Of all sectors in the S&P/ASX 300, tech companies faced the highest average vote against executive remuneration plans – the best proxy for angry or unhappy investors – at 19 per cent, or almost one in five votes cast.
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