Annual general meetings in Australia are often underwhelming affairs. They represent the one opportunity each year for retail shareholders to get up close and personal with the management teams of the companies they’ve invested in — but for many, it's more about what sandwiches are on offer.
Macquarie Group is one exception. At its 2018 AGM, the sprawling investment giant announced Shemara Wikramanayake would succeed Nicholas Moore as CEO, and it tends to use the event to announce management changes.
With rumours already abounding in the market, the invitation to a media briefing ahead of this year’s AGM sparked speculation about Wikramanayake’s future.
She’s now been in the role for seven years and recently oversaw the sale of the company’s North American funds management businesses — assets she had previously acquired — which has likely increased interest in succession.
