NextDC executives should be accountable for financial woes

Detailed summary

NextDC chief executive Craig Scroggie’s hopes of calming investors rattled by a potential takeover bid have taken another hit after proxy adviser Ownership Matters opposed the…

NextDC chief executive Craig Scroggie’s hopes of calming investors rattled by a potential takeover bid have taken another hit after proxy adviser Ownership Matters opposed the company’s remuneration report and urged the board to hold management accountable for its financial problems.

The data centre developer, which faces a potential second strike against executive pay at its annual general meeting on November 20, is expected to incur the wrath of investors angry about its failure to foresee a community backlash against the installation of massive transmission poles to power a Melbourne facility - a planning crisis that has made NextDC a takeover target.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.