Glass Lewis raised concerns in its controversy alert for Aneka Tambang (ASX:ATM) shareholders ahead of the mining company's annual general meeting scheduled for Nov. 13.
The environmental, social, and governance adviser cited alleged corruption and egregious remuneration practices as the basis for its alert.
The mining firm is currently facing a "continuous stream" of legal cases and allegations from several divisions.
Members of the company's risk committee were part of the board of directors from 2010 to 2022 when the alleged corruption cases happened.
The company's board of commissioners, responsible for managing risks, received a bonus 1.3 times larger than their regular sitting fees in the last fiscal year despite the company being implicated in two corruption charges.
Glass Lewis said that the issues surrounding the company "affect remuneration analysis."
The alert's rationale is centered on relevant media coverage and egregious governance practices and falls under board responsiveness, ethics, and oversight issues.
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