Institutional shareholders are poised to strike down National Australia Bank's remuneration report at what is expected to be a fiery annual meeting in Melbourne on Wednesday.The bank's board has copped a hail of criticism from shareholders over its decision to award bonus pay to senior executives following a year in which the company's reputation was disfigured by numerous scandals and controversies flowing from the hearings of the Hayne Royal Commission.Shareholders are also likely to turn their blowtorches on chief executive Andrew Thorburn after the bank confirmed yesterday that he would be taking extended leave from his duties after the annual meeting.The NAB boss will go on leave at the end of the meeting and return briefly in early February to oversee the bank's response to Commissioner Hayne's final report.He will then take another month of long service leave in which time the chief financial officer, Gary Lennon, will act as chief executive."NAB CEO Andrew Thorburn is taking holidays following our AGM later this week," a bank spokesman said."He will return to work for the release of the royal commission's final report, and to consider and lead NAB's response."He will then take a month's long service leave to refresh, recharge and spend time with his family before returning to lead NAB through the next stage of our transformation."The timing could be awkward for the bank and Thorburn, especially if the royal commission recommends that regulators take enforcement action against executives of the company.Evidence presented to the royal commission indicates that NAB misled the Australian Securities and Investments Commission by under-reporting the extent of 'fee for no service' breaches in its wealth management operations.Shareholders were flummoxed by the board's move to award Thorburn short-term bonuses as part of his 2018 remuneration package.That decision is one of several that have prompted the Australian Shareholders' Association to recommend its members vote against the company's remuneration report."We will be voting against the remuneration report," said ASA spokesman Dennis Shore."While the board has accepted responsibility for the bank's misconduct and underperformance but it doesn't want executives and directors to take a financial haircut in the form of fee reductions."We also didn't think it was inappropriate for the CEO to receive a tranche of shares given the bank's performance."Shore said NAB should have adhered to the zero- bonus pay standard adopted by CBA's directors.As part of his A$6.2 million pay package, Thorburn was granted more than $3 million worth of short and long-term share-based bonuses.The bonuses were granted even though the board observed in the annual report that the senior executive team had not dealt adequately with reputation and customer welfare issues."The board considers that customer, risk and reputation matters, many of which have featured in the royal commission, should have been dealt with better and faster," the board told shareholders in the annual report."The board considers that the executive leadership team needs to do more, individually and collectively, to ensure that NAB always 'does the right thing' by its customers."In the last 12 months NAB's share