NZX in for a tongue-lashing at AGM

NZX chair John McMahon is seeking re-election, a pay bump and is promising to focus more on the company in the next two years. (Image: Supplied)

Pattrick Smellie

Tue, 16 Apr 2024

Directors of New Zealand’s listed stock exchange operator, NZX, can expect a tongue-lashing from at least one shareholder at this week’s annual meeting, where directors are seeking a 38% increase in their fee pool.Described variously as “ridiculous” and “egregious” by BlackBull Research analyst Eden Bradfield, the increase would be the third year in a row that NZX directors have sought “adjustments to bring … fees in line with the market media”.The proposed increase, from $564,000 to $779,0...

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