BlueScope shareholders will vote on share-based pay for chief executive Tania Archibald at the company’s annual meeting on November 16, at the Novotel Northbeach in North Wollongong.
Ms Archibald took over as CEO on February 1. Her pay for the 2026-27 financial year is $1.85 million a year, plus bonuses worth up to $3.1 million if she meets targets. It is understood part of the bonus will be paid in shares.
The long-term bonus only pays out if BlueScope earns an average return on invested capital above 10 per cent and keeps its debt below set limits.
Shareholders will also vote on a number of issues - from electing new director Michael Morley, who has worked in the steel industry for nearly 30 years, and keeping Jennifer Lambert on the board for a fourth term, to renewing rules that let shareholders vote on partial takeover bids.
You can read BlueScope chair Jane McAloon’s full message here.
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Kiama’s $4.55m street corner
A prominent Kiama street corner has sold for 75 per cent more than it fetched in 2015.
The former Commonwealth Bank building at 2 Manning Street, Kiama, has sold for $4.55 million to Sydney buyers reportedly linked to an international fitness company.
Ray White Kiama agent Robert Moore told The Bugle the buyers have indicated a fitness-related use and are understood to be considering redevelopment, possibly with housing. A development application has not been lodged.
The 430-square-metre freehold sits at the Manning and Terralong streets intersection with estimated floorspace of about 521 square metres.
The price is $1.95 million above the $2.6 million paid in 2015, according to property records. Mr Moore said an expressions-of-interest campaign drew strong interest. The number of bidders was not disclosed.
Small Business Commissioner visits
Business Illawarra and Destination Sydney Surrounds South are hosting a session with the NSW Small Business Commissioner Kalina Koloff on Friday, October 16, from 10:30am to noon at The Grange, Kembla Grange.
The discussion will cover operating costs, workforce pressures, regulation, insurance and business growth, along with the support available to small businesses.
Entry is free, but you need to register. Do that here.