Key proxy advisor backs annual elections and more skin in the game for ASX directors
Ownership Matters' Dean Paastch has described proposals by prominent investment banker John Wylie to improve corporate Australia's risk culture as a "no-brainer".
Dean Paatsch, the co-founder of influential proxy adviser Ownership Matters, has backed calls for ASX directors to stand for annual elections and have more skin in the game in the companies they oversee as part of a push to change corporate Australia’s attitude towards risk.
Prominent investment banker and Tanarra Capital chief investment officer John Wylie recently floated a series of proposals designed to change corporate Australia's attitude towards risk and ignite stagnant productivity.
They include requiring directors to stand for election each year, rather than every three years, and encouraging directors to buy more shares in their companies which is currently discouraged.
Paatsch called the election proposal a "no brainer" and said an annual shareholder vote on individual directors would help prevent the worst corporate blowups.
