Cleanaway faces second remuneration strike at meeting

• Cleanaway reported that proxy votes indicate it will receive a second consecutive strike against its remuneration report at the annual general meeting.
• The vote occurs alongside a pending $9.3 billion acquisition agreement by Swedish firm EQT.
• Chair Samantha Hogg stated that the board engaged extensively with proxy advisers and shareholders to modify frameworks and direct board renewal.

Cleanaway Waste Management (ASX:CWY) stated that proxy results for its upcoming annual general meeting indicate it will receive a second consecutive strike on its remuneration report.

This development follows the company's recent announcement regarding a binding scheme implementation deed for a cash buyout valued at approximately $9.3 billion.

“Over the past year, the board has undertaken extensive engagement with shareholders and proxy advisers to better understand their concerns,” said Cleanaway Chair Samantha Hogg.

The company noted that prior feedback drove adjustments to executive remuneration frameworks, executive outcome discretions, and overall board renewal practices.

Following the announcement, the Cleanaway Waste Management share price was unchanged at $3.00.

Cleanaway operates an integrated network of waste management and resource recovery infrastructure assets across Australia.

The firm previously received its first remuneration report strike during the annual general meeting held in the prior year.