:Activist shareholders opposed Santos' growth strategy on Thursday, saying that executive incentives are driving up investments in upstream growth projects and potentially raising carbon emissions and reducing shareholder value.Activist investor groups Snowcap Research and Market Forces have separately highli
:Activist shareholders opposed Santos' growth strategy on Thursday, saying that executive incentives are driving up investments in upstream growth projects and potentially raising carbon emissions and reducing shareholder value.
"Santos' rampant pursuit of new fossil fuel production, sanctioned by the board and incentivised with big executive bonuses, represents an abject failure of corporate governance," said Will van de Pol, acting executive director at Market Forces. London-based Snowcap, which did not disclose its stake in Santos, said Santos had"lost its way", and in a letter called for an overhaul of its"misguided and reckless" growth strategy, advocating for reforms it claims could increase shareholder value by as much as 50 per cent.
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