2020-11-19 18:02

Online retailer Kogan comes under fire over plans to hand out $80MILLION in bonuses to its Aussie founders after profits soared during the pandemic nmE世界播



Online retailer Kogan has come under fire for planning to give its two Australian founders tens of millions of dollars in bonuses. nmE世界播


The e-commerce business will ask shareholders to approve a grant of six-million share options to executives Ruslan Kogan and David Shafer at its annual general meeting on Friday. nmE世界播

这家电子商务企业将在周五的年度股东大会上要求股东批准向高管鲁斯兰·科根(Ruslan Kogan)和大卫·谢弗(David Shafer)授予600万股期权。nmE世界播

Kogan shares are at $18.33 after Australians flocked to the site to buy electronics and household goods during the pandemic, boosting its stock price by 150 per cent. nmE世界播



Kogan's multi-millionaire ownersRuslan Kogan (left) and David Shafer (right) could receive an extra $80million after being awarded the share options for just $5.29 nmE世界播

Kogan的百万富翁所有者Ruslan Kogan(左)和David Shafer(右)在仅以5.29美元的价格获得股票期权后,可能会额外获得8000万美元nmE世界播

According to a deal struck in May, the multi-millionaire owners could receive an extra $80million after being given options valued at just $5.29, the Sydney Morning Herald reported. nmE世界播


The deal attracted backlash from financial advisory firmsCGI Glass Lewis, ISS and Ownership Matters - which each suggested their clients vote against the proposal. nmE世界播

这笔交易招致了CGI Glass Lewis、ISS和Ownership Matters等金融咨询公司的强烈反对,这些公司都建议他们的客户投票反对这项提议。nmE世界播

The recommendation was provided on the grounds that the owners did not meet performance hurdles worthy of the exorbitant grant, they simply stayed in their jobs. nmE世界播


If the proposal is blocked, Kogan chairmanGreg Ridder said he would find a way to award the bonuses, either by buying them at market price or via a cash payment. nmE世界播

如果这项提议被否决,Kogan董事长格雷格·里德(Greg Ridder)表示,他将找到一种方式来奖励奖金,要么以市场价购买,要么通过现金支付。nmE世界播

CGI Glass Lewis said if the application is approved, it would recommend that Kogan's directors not be re-elected, citing a 'governance failure'. nmE世界播

CGI Glass Lewis表示,如果申请获得批准,它将建议Kogan的董事不要连任,理由是“治理失败”。nmE世界播


Mr Kogan (pictured) has a net worth of more than half a billion dollars and sat at 188th place on the Australia's Rich List nmE世界播


Shareholder Stephen Mayne, who will put himself up for election to the board on Friday, warned that if Mr Ridder's plan succeeded, it could breach rules by theAustralian Securities and Investments Commission on reasonable remuneration. nmE世界播

周五将参加董事会选举的股东斯蒂芬·梅恩(Stephen Mayne)警告称,如果莱德的计划成功,可能会违反澳大利亚证券和投资委员会(ANIC)关于合理薪酬的规定。nmE世界播

'It's imperative for ASIC to get involved here and make sure the directors are acting in accordance with their duties,' he said. nmE世界播


'The idea that you give away $80million in value to satisfy a contract that's not legally approved by shareholders is staggering.' nmE世界播


Mr Mayne is a notorious shareholder activist and founder of Crikey magazine with a long history of making life difficult for the boards of big companies. nmE世界播


Ownership Matters director Dean Paatsch said the proposal was the easiest 'no' recommendation he had seen in years, but added that shareholders have the right to approve or disapprove. nmE世界播

所有权事务主管帕奇(Dean Paatsch)说,这项提议是他多年来看到的最简单的否决建议,但他补充说,股东有权批准或反对。nmE世界播

'So it could be that on Friday, shareholders, for all their collective wisdom, decide that this is a good thing. And if that's the case, so be it. You can't stop people committing corporate suicide,' he said. nmE世界播



Kogan shares started trading at $18.81 after Australians flocked to the e-commerce business to buy electronics and household goods during the pandemic (pictured: Kogan website) nmE世界播


Kogan's board pointed out that Mr Kogan and Mr Shafer have not taken any other long-term incentives since 2016, but both men have sold more than $350million in shares collectively. nmE世界播


Mr Kogan has a net worth of more than half a billion dollars and sat at 188th place on the Australian Financial Review's Rich List. nmE世界播


But not all shareholders are unhappy with the proposal. nmE世界播


Tobias Yao, a fund manager at Wilson Asset Management, said management should be rewarded for their achievements and will vote 'yes'. nmE世界播

威尔逊资产管理公司(Wilson Asset Management)的基金经理托拜厄斯·姚(Tobias姚)说,管理层应该因业绩而获得奖励,并将投赞成票。nmE世界播

James Davis, chief investment officer at DS Capital, also agree and said the duo created 'enormous value'. nmE世界播

DS Capital首席投资长詹姆斯·戴维斯(James Davis)也对此表示赞同,他说这两家公司创造了“巨大的价值”。nmE世界播

Mr Kogan and Mr Shafer own 20 per cent of Kogan shares collectively, but will not be able to vote on the proposal. nmE世界播

Kogan和Shafer总共拥有Kogan 20%的股份,但将不能对该提议进行投票。nmE世界播

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