“Is the board actively exploring measures to strengthen the group's remuneration and incentive practices, particularly regarding the allocation of OCBC shares to the Group CEO, considering his role primarily focuses only on the overall strategic direction and business growth of the Great Eastern Group?” Gerald had asked.
On March 7, David Gerald, CEO and President of Securities Investors Association Singapore (SIAS) wrote to the the board of Great Eastern Holdings (SGX:G07
) with some observations and some questions. Among the questions he asked were on the remuneration of GEH senior management with stock options of Oversea-Chinese Banking Corp shares.
In GEH’s 2023 AGM in April 2023, minority shareholders had questioned why GEH top management were remunerated with OCBC shares. OCBC owns 88% of GEH. This remuneration had always felt uncomfortable to market watchers. GEH top management should be incentivised with GEH shares, they have argued for the past 20 years.
