Voting Advisory Firm IiAS Raises Concerns Over Hindustan Zinc Board Resolutions

Voting advisory firm IiAS has raised concerns over three key resolutions at Hindustan Zinc Limited (HZL) ahead of its annual general meeting (AGM) on August 25, 2025.

IiAS recommended an ‘against’ vote on the reappointment of Whole-Time Director and Chief Executive Officer (CEO) Arun Misra, citing issues with his remuneration structure. Misra earned Rs 19.9 crore in FY25, including Vedanta stock options, with FY26 remuneration projected at Rs 31.42 crore. The advisory firm has supported his continuation as CEO but opposed the terms of his remuneration. IiAS also opposed the reappointment of Independent Directors Pallavi Joshi Bakhru and Anoop Mittal, pointing to governance, conflict-of-interest, and independence concerns. IiAS, however, supported seven other resolutions, which will be voted in between August 20 and 24. The firm also urged greater transparency in the disclosure of performance metrics linked to variable pay.