UPDATE: NZX directors mauled in fee vote

NZX board chair John McMahon presenting to shareholders in Auckland. (Image: BusinessDesk)

Thu, 18 Apr 2024

Thu, 18 Apr 2024

NZX shareholders have delivered its board a mauling, with more than a quarter of the shares voted opposing the re-election of the stock exchange operator’s chair, John McMahon.Results from the vote at the NZX annual meeting in Auckland this morning showed 27.62% of the shares voted opposed McMahon’s re-election.On a resolution seeking a 38% increase in the NZX directors’ fee pool, 16.75% of voted shares were opposed.The protest extended to the re-election of another director, Lindsay Wright, whose reappointment was opposed by...

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Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 9:15am