Investors sharpen pitchforks ahead of fiery AGM season
The white hot public anger directed at the Qantas board should send a clear message to directors of all companies this AGM season: listen to your shareholders.
AGM season is once again upon us, providing a rare window of two-way communication between the investors who fund companies, and the directors and executives who run them.
This time the stakes feel higher than usual, the pitchforks a little sharper. Perhaps it’s the Qantas matinee that has preceded it this year, demonstrating the firestorm that can punish tin-eared management teams and boards.
Perhaps it’s the pre-match entertainment emerging at Whitehaven, where management and activist shareholders are exchanging body blows.
Or could it be the concerted yet ultimately failed push on Thursday to oust Australian Securities Exchange chairman Damian Roche early?
