Nine Shareholders Deliver Strike on CEO Pay

Investors voted against Nine Entertainment's remuneration report and chief executive Matt Stanton's pay arrangements at the annual general meeting.

Updated on Nov. 6, 2026 in Public Companies

Nine Shareholders Deliver Strike on CEO Pay

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Nine Entertainment shareholders delivered a strike against the company's remuneration report and the pay of chief executive Matt Stanton. The share price rose 8 per cent to $0.80 following the annual general meeting and a trading update.

Why it matters

A strike is recorded when more than 25 per cent of votes are cast against a remuneration report, and two consecutive strikes can force a board to face re-election. Proxy advisers cited Nine's smaller size after selling Domain and the 30 per cent fall in its share price over the past year as reasons to oppose the pay arrangements.

Stanton's base pay was $1.6 million and total remuneration including bonuses was $3 million last financial year. Nine's cost savings target was exceeded by $20 million, reaching a total of $180 million.

The players

Nine Entertainment

Nine Entertainment is one of Australia's largest media companies, with publishing and media businesses based in Sydney.

Matt Stanton

Matt Stanton is the chief executive of Nine Entertainment, whose pay arrangements were opposed by shareholders.

CGI Glass Lewis

CGI Glass Lewis is a proxy advisory firm that urged investors to vote against Nine's executive pay arrangements.

ISS

ISS is a proxy advisory firm that urged investors to vote against Nine's executive pay arrangements.

Birketu

Birketu is the investment company of Bruce Gordon, which increased its stake in Nine Entertainment to 31.2 per cent.

The details

Proxy advisory firms CGI Glass Lewis and ISS urged investors to vote against the executive pay arrangements. Bruce Gordon's company Birketu increased its stake in Nine to 31.2 per cent, and Nine expects to grow revenue and earnings in the current financial year.

Two years ago: Nine's previous executive pay strike against Stanton and West.
Last year: Nine sold its 60 per cent stake in Domain.
Mid-October 2026: Nine's share price hit a low before partially recovering.
6 November 2026: Shares rose 8 per cent after the annual general meeting and trading update.

Market Landscape

Nine's second pay strike in two years places it under the two-strike rule that can force a board re-election vote. The vote follows the sale of Domain and the QMS purchase, reshaping Nine's business as it competes in the Australian media sector.

Nine's shareholders have signalled that executive pay must track performance more closely, which could affect future remuneration decisions at the company. Investors holding Nine shares may see the board respond to the strike in upcoming governance changes.

The takeaway

Shareholder votes on pay can signal broader frustration with performance and capital decisions, making remuneration reports a useful gauge of investor sentiment. Readers following Nine should watch how the board responds to the strike and whether a re-election vote is triggered.