What changes did shareholders approve at FGV’s 14th AGM?

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Shareholders Approved Fee Increases for FGV Chairman and Directors at the 14th AGM

At FGV Holdings Berhad's 14th annual general assembly (AGM), shareholders approved significant changes to the remuneration packages for the non-executive chairman and other non-executive directors. These resolutions included an increase in the annual and monthly fees for the non-executive chairman, Datuk Dzulkifli Abd Wahab, and a rise in the monthly fees for seven other non-executive directors. Overall, 13 resolutions were passed during the AGM.
Non-Executive Chairman's Remuneration Increased

Shareholders agreed to raise the yearly fee for the non-executive chairman, Datuk Dzulkifli Abd Wahab, from RM300,000 to RM480,000. This adjustment also saw his monthly fee as chairman increase by RM15,000, bringing it to RM40,000, effective from June 24.
Other Non-Executive Directors' Fees Raised

In addition to the chairman's revised compensation, seven other FGV non-executive directors will now receive a monthly fee of RM12,500. This represents an increment of RM2,500 per month for each director, a structure that will remain in place until the next AGM.
Context of Remuneration Adjustments

These approved changes follow a period where FGV's remuneration packages for its board members had faced criticism. The company has also stated that it appointed an independent consultant in 2022 to review and benchmark the remuneration for its non-executive directors. Previously, in 2019, the non-executive chairman's fees were reduced from RM600,000 to RM300,000.

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What changes did shareholders approve at FGV’s 14th AGM?

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