Orora (ASX:ORA) is facing shareholder backlash over bonus payments to CEO Brian Lowe despite the company's share price underperformance during his tenure so far, the Australian Financial Review reported Monday.

Sandon Capital Investments (ASX:SNC), which holds a nearly 1% stake in Orora, warned the company's board that it plans to vote against its executive remuneration package at an Oct. 14 annual meeting, according to the report.

If 25% of votes are cast against the remuneration plan, Orora will face a so-called second strike, which will trigger a spill resolution that may require the company's board members to be re-elected, the news outlet reported.

An Orora spokeswoman told AFR it is engaging with major shareholders on all matters, including remuneration. Orora and Sandon Capital did not immediately respond to requests for comment from MT Newswires.

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