Mining contractor Perenti (ASX:PRN) has sidestepped the threat of a "second strike" after revising its executive pay policies to hold management more accountable for workplace safety.
The company faced backlash last year with a 33% vote against its remuneration report, prompting changes under new chair Diane Smith-Gander.
Perenti now ties executive bonuses more closely to safety performance and allows the board to financially penalise managers following workplace fatalities.
Shareholders endorsed the revised report at the annual general meeting on Oct. 3, but a 15.7% opposition vote indicates some lingering concerns.
Since May 2022, five Perenti workers have died at its mining sites, the latest at the Mana Mine in West Africa in February.
The Australian Shareholders' Association suggested executives should lose their entire bonuses in the event of fatalities, but Smith-Gander argued this could hinder attracting and retaining skilled leaders.
Despite safety issues, Perenti reported a $107.2 million net profit for FY24 on record revenue of $3.3 billion.
Perenti is a diversified global mining services company with interests in contract mining, mining support services and future technology solutions. The company's segments include contract mining, drilling services and mining services and idoba.