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The NZX Board has met regarding the proposed CEO Share Scheme. The Board has listened to feedback from shareholders.
“During these discussions with shareholders, overriding feedback has been support for the company, its performance, and its CEO Mark Weldon. However, there are concerns with elements of the scheme,” said NZX Chairman Simon Allen .
The Board has resolved to withdraw the current proposal and develop a suitable alternative. The Board believes that it is essential to provide clarity and certainty around the Board's expectations for the CEO's long term performance, and to implement an appropriate incentive package to reflect this.
As a consequence, the resolution relating to the CEO Share Scheme will not be put to shareholders.
“NZX has delivered a superb performance in recent years, to the benefit of all shareholders. The Board, staff and management of the company are focused on achieving ongoing strong results for our shareholders and our markets,” said Mr Allen.
