Article: Branson opposes Virgin Blue directors' pay proposal

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Yada Yada

Yada Yada

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theaustralian.new.com.au said:
Branson opposes Virgin Blue directors' pay proposal
Steve Creedy, Aviation writer
February 07, 2006

RICHARD Branson's Virgin Group is understood to be opposed to moves by Virgin Blue directors to increase the pool of money available to them by 33 per cent and could vote against the proposal at today's annual meeting.

The airline's shareholders will be asked at the meeting in Brisbane to approve lifting the aggregate amount paid to its non-executive directors from $750,000 to $1 million.

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Answered my own question!

Corrigan from Patricks opted to abstain from the vote and 50 million+ proxies carried the motion to increase the total directors' fees by 33% to $1 million pa.
 
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