NWH 0.34% $2.92 nrw holdings limited

Ann: NRW Share Purchase Plan, page-68

  1. 445 Posts.
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    Hello Sabine. Completely off topic (NRW that is) here but the issue of Stephen Mayne, Katie Page and the Harvey Norman AGM needs clarification. While he stood as an independent director at the HN AGM, Mayne did not support the removal of CEO Page.
    Mayne's
    quote in Eureka at the time:
    I voted in favour and gave her a bouquet for standing, when she could have avoided this by utilising the exemption given to CEOs from election.
    and from channel news:

    While he maintained he was a suitable candidate to bring an independent voice to the Harvey Norman board, Mr Mayne disagreed with any suggestion Ms Page be removed from the board. "There’s not a problem with Katie,” he said. “I think it’s good she put herself up for election when she didn’t have to. Katie should be the only one on the board who is safe.”

    I'm not a holder of HN stock but the AGM back in November sounds like it was trench warfare.
    As I wrote earlier, Mayne made some interesting points in the NRW
    article which Jacko picked up on. He also scores marks for self reporting his interests. You mightn't always agree with his point of view but being a fly in the ointment of corporate Australia often serves minority holders well. Not the least being the ferreting out of information that otherwise management and boards would like kept in the dark.
    Finally a point he made in your quoted channel news
    “Most directors don’t have any shares when they join a board, so I have more shares than your average entering director.” Unfortunately many directors, once seated, maintain this lack of skin in the game. Pleasing to note this is not the case at NRW.
    OK then back on topic class.....and thanks to so many NRW posters: the quality of discourse and information provided is first class which unfortunately is often not mirrored elsewhere on HC.


    Last edited by westmount: 15/01/20
 
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