Endeavour Group – owner of Dan Murphy’s, BWS and more than 350 hotels – has narrowly avoided a first strike on its remuneration report, with shareholders venting frustration over recent poor performance, a weaker share price and lower dividends.
At the Sydney AGM, just over 21% of votes were cast against the remuneration report, shy of the 25% threshold that would have triggered a first strike.
Interim chairman Duncan Makeig acknowledged the company needed to lift its game and said the group was optimistic about the year ahead as incoming chief executive Jayne Hrdlicka takes the helm on January 1. He added that the search for a new board leader was well advanced, with a permanent independent chair expected to be appointed early in the new year.
Shares in EDV are flat at $3.67.