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It’s quite clear, we need transparency
19-November-08
Written by Mark Pownall

TRANSPARENCY is a fascinating concept and last week I encountered two vastly different examples of its application, or more accurately, its absence.

One was at Wesfarmers Ltd's annual meeting held in front a crowd that swelled above 1,000, while the other was at a far more select crowd for a Committee for Economic Development Australia function entitled Lessons from the Gas Crisis.

At Wesfarmers, proxy voters took the board to task over its bonus package for managing director Richard Goyder, believing the package was not transparent enough because the five-year return on equity targets were not released due to commercial confidentiality.

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