{"id":23769,"date":"2021-10-21T12:19:37","date_gmt":"2021-10-21T15:19:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23769"},"modified":"2026-04-23T14:33:56","modified_gmt":"2026-04-23T17:33:56","slug":"crown-resorts-shareholders-reject-exec-exit-payments","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-shareholders-reject-exec-exit-payments","title":{"rendered":"Crown Resorts shareholders reject exec exit payments"},"content":{"rendered":"\n<p>Crown Resorts shareholders have voted against the company\u2019s remuneration report, opposing the casino operator for a second time. <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- While <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/victoria-royal-commission-to-deliver-crown-findings-on-friday\">Crown Resorts<\/a> awaits the verdict of two Royal Commissions, its shareholders have shown their disagreement with the casino operator&#8217;s <strong>Executive Termination Payment Scheme<\/strong>\u00a0for executives who have left the company.<\/p>\n\n\n\n<p>Ahead of the annual general meeting of shareholders on October 21,<strong>\u00a0nearly 31 per cent of proxies<\/strong> have voted against the company&#8217;s remuneration report. It&#8217;s the <strong>second consecutive year that <strong>Crown Resorts<\/strong><\/strong> <strong>shareholders have opposed the casino giant<\/strong>, exceeding the 25 per cent threshold required to &#8220;strike&#8221; the operator.<\/p>\n\n\n\n<p>According to The Guardian,<strong>\u00a0the executives who have left Crown Resorts earned more than AU$20m in revenue\u00a0<\/strong>in the 2021 fiscal year. <strong>Jane Halton, Crown\u2019s interim chairman<\/strong>, said the payments were required under \u201clongstanding contracts\u201d.<\/p>\n\n\n\n<p>She said <strong>the board of directors was overhauling the existing executive compensation system<\/strong>, recognising that company shareholders have been seeking an explanation for the termination fees paid by operators.\u00a0<\/p>\n\n\n\n<p>Halton said <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-appoints-ziggy-switkowski-as-chairman\">Ziggy Switkowski<\/a>, who is expected to succeed her as chairman of the board, would not be answering questions about severance pay, nor would <strong>new directors Bruce Carter and Nigel Morrison<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crown Resorts shareholders have voted against the company\u2019s remuneration report, opposing the casino operator for a second time.<\/p>\n","protected":false},"author":176,"featured_media":19861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts shareholders have, for the second consecutive year, voted against the company's remuneration report, specifically opposing executive termination payments and exceeding the 25 per cent 'strike' threshold. This sustained dissent highlights significant investor concerns regarding corporate governance and executive compensation practices, particularly amidst ongoing Royal Commissions. The board acknowledges the need to overhaul the existing executive compensation system.","focusai_entities":"Crown Resorts, Jane Halton, Ziggy Switkowski, Bruce Carter, Nigel Morrison","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.8), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Governance Impact","query":"What are the potential long-term implications of this sustained shareholder dissent on Crown Resorts' corporate governance framework and its ongoing regulatory challenges, particularly concerning B2C licensing stability?"},{"label":"Remuneration Strategy","query":"How will the board's stated overhaul of the executive compensation system address investor concerns, and what specific changes are anticipated to prevent future 'strikes' and align with best-practice governance frameworks?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657],"class_list":["post-23769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23769"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23769\/revisions"}],"predecessor-version":[{"id":23790,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23769\/revisions\/23790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19861"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}