Cash-bonuses only in banking
Investors are looking for "very clear, transparent remuneration structures," Heather Ridout, the Australian Super chair told company directors yesterday.On a panel with David Gonski, the chair of ANZ, Ridout pushed pragmatism.Gonski played partly to the status quo, as reported by the Sydney Morning Herald.David Gonski rejected the idea of capping chief executives' pay, the SMH summed up.Gonski said he was "open" to the Labor policy mandating bank CEO pay expressed as a multiple of the median employee's pay."What I would be really against is if it was legislated, and there are jurisdictions in the world in relation to banking, where they do legislate that it can't be higher than a certain ratio."I don't believe we should do that.""What investors like ours are looking for is very clear, transparent remuneration structures," Ms Ridout said, speaking for all of industry superannuation.