ADO 4.55% 2.1¢ anteotech ltd

You're pointing all the blame at one man, but I guess that would...

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    You're pointing all the blame at one man, but I guess that would suit your agenda here.

    From the Guardians report of the WBC AGM 2019

    "Furious shareholders in scandal-ridden Westpac have blasted the bank’s board and management as “incompetent” – or worse....."

    "The mood was grim among the approximately 600 shareholders in attendance at the International Convention Centre. They heckled the board with cries of “just go” and saved their applause for calls from the floor for more of the bank’s directors and executives to leave the bank over the scandal."

    "It was Lindsay Maxsted’s last AGM; he will step down next year as part of a clean-out that has already seen off chief executive Brian Hartzer."

    "Non-executive director Ewen Crouch, who chaired the bank’s risk committee, was due to face re-election at the meeting but withdrew his nomination in the face of investor anger."

    "One shareholder pointed out that every member of the board sat on the risk committee – and earned an extra fee for doing so."

    "Investors also called for wages to be clawed back from executives responsible for the mess, expressed anger at the $2.7m Hartzer is to be paid for doing nothing for the next 12 months, and asked why they were not told of the potential scale of the disaster before tipping $2.5bn into the bank in a capital raising last month."

    Interestingly:
    "About 35% of shares were voted against the remuneration report, down from about 60% last year but enough to trigger a second “strike” and an automatic motion to spill the board."
    Last edited by 62strat: 23/07/23
 
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