Tabcorp has avoided a second strike on executive pay and a potential board spill after its remuneration report was passed by more than 85 per cent of shareholders.
More than 40 per cent of shareholders opposed last year’s remuneration report, putting the gaming and wagering giant’s board at risk of a spill motion.
But on Thursday, 85.5 per cent of votes were cast in favour of the company’s remuneration report, with 14.5 per cent voting against.
If 25 per cent had voted against, a spill resolution would have been put to the vote.
All the resolutions at the AGM passed but there were signs of discontent, with 34.7 per cent voting against chairman Paula Dwyer’s re-election as a director and 36.6 per cent voting against performance rights to chief executive David Attenborough.