Aussie shareholders forced NZME chair out

Thu, 11 Jun 2020

A group of Australian investors in NZME voted against Peter Cullinane's re-election as chairman, prompting his abrupt resignation ahead of the annual shareholders' meeting today. "I was aware of what was coming in – there was a block of Australian funds," Cullinane told BusinessDesk. He wouldn't say whether those votes would have been enough to vote him down. "Those numbers are not mine. It was certainly sufficient in my view. I concluded I didn't have the support of a key group of shareholders." While NZME has since lodged the voting...

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