Mirabela Nickel has promised it will review its executive pay packages after its Annual General Meeting saw just over 40 per cent of proxies voted against the company’s proposed remuneration package.


The vote delivers the first strike under the Federal Corporate Governance laws introduced last year, meaning the company will have to revisit the drawing board for a more acceptable pay package for its executives, or else run the risk of a board spill.


Shareholder anger is mostly directed towards the 44 per cent increase in remuneration for the company’s top four executives, with CEO Ian Purdy pocketing a total of $1.94 million, including a $464,000 bonus.