Categorized | Singapore Trading News

StarHub’s AGM draws flurry of queries from shareholder

StarHub’s AGM draws flurry of queries from shareholder
StarHub shareholder Dr Tony Tan’s complaint that that the telco had too many board members and paid them too much, attracted comebacks from no less than three directors. — PHOTO: BLOOMBERG

TWO years ago, StarHub shareholder Dr Tony Tan’s complaint that that the telco had too many board members and paid them too much, attracted comebacks from no less than three directors.

On Friday morning, Dr Tan again took to the stage at the telco’s 13th annual general meeting, asking a flurry of questions, ranging from how the board justified its pay, to whether StarHub’s directors were too old for a company that that needs to be at the forefront of technology.

Dr Tan – who did not attend last year’s AGM as he was overseas – wanted the board to justify its directors’ fees of $1.17 million, up from $1.08 million in 2010. ‘What KPI (key performance indicators) do you use to determine whether you have performed, against the fees you are getting? How will I know you have done a good job?’ asked Dr Tan, who runs his own consulting firm.

Dr Tan, 46, was also concerned whether StarHub’s board members, given their average age of 61, ‘really understand the needs of their customers given their difference in age’.

StarHub’s chairman Tan Guong Ching took his comments in his stride. ‘Your point is taken. And I am not offended,’ said the 65-year-old.

On board compensation, he said, StarHub has an external consulting company, Carrots Consulting. On its advice, ‘a variable quantum is pegged to performance, and measures how StarHub performs compared to Morgan Stanley Capital International’s stock indices, amongst other indicators,’ he said.

adapted from ST online

Leave a Reply

 

Symbol Bid Ask Spread
EURUSD 1.17470 1.17490 2
GBPUSD 1.31870 1.31900 3
USDCAD 1.26530 1.26560 3
USDJPY 113.640 113.660 2
USDCHF 0.98560 0.98590 3
AUDUSD 0.77810 0.77840 3
NZDUSD 0.69210 0.69260 5
EURGBP 0.89060 0.89090 3
EURCHF 1.15790 1.15820 3
EURJPY 133.500 133.530 3
AUDJPY 88.430 88.480 5
GBPJPY 149.860 149.920 6
XAUUSD 1279.87 1280.27 40
XAGUSD 17.058 17.108 5