FED: Senate inquiry hearing on company boss payouts

AAP General News (Australia)
08-25-2009
FED: Senate inquiry hearing on company boss payouts

CANBERRA, Aug 25 AAP - Planned limitations on termination payouts to corporate bosses
come under the senate spotlight in Sydney on Tuesday.

The federal government has introduced legislation which lowers significantly the threshold
at which termination benefits must be approved by shareholders.

Presently, the threshold is seven times the annual salary of a company director or executive.

The government wants the threshold to kick in once the termination amount exceed one
year's average base salary.

The Senate's economics committee will take evidence from groups representing major
business, company directors, superannuation investors and bankers.

AAP rl/srp

KEYWORD: PAYOUTS

2009 AAP Information Services Pty Limited (AAP) or its Licensors.