I am not a shareholder of Woolworths - but interested in the debate because there is a general lack of respect for the outcome of the divisive referendum. I support the comments from MrCat - but more to do with Woolworths CEO (and board) appearing to live in a fantasy land. However there are deeper issues at play - notably the interference of Black Rock and Vanguard. I don't think the CEO will be sacked - and I would simply say that if investors are not happy they should look for alternative investments. Personally I keep a list of the woke Companies with a view to reducing exposure over time. I would say Woolworths crossed the line (more so than others). BHP for example basically admitted their support for the Voice was in the interests of BHP, and had little to do with what was best for Australia, or indeed whether they even agreed with the 'Yes' vote even though they financially supported it. This is the main danger of these Companies making political comments as their motivations are highly suspect - and certainly not in the interests of either shareholders or Australians. The reality is that political comments are more about providing upward mobility of CEOs and Directors in their careers with transition to other Companies that are effectively run by Black Rock and Vanguard.
For comparison have a look at Warren Buffets' comments on his criteria on Board appointments. (the out of date, old-fashioned view that you choose the best applicants with a view to maximising shareholder value).
Whilst slightly disappointed with Aldi - they did not make political comments.
WOW Price at posting:
$36.32 Sentiment: Sell Disclosure: Not Held
(20min delay)
