Not a whole lot of explaining being done at wobbly Woolies

Business

Not a whole lot of explaining being done at wobbly Woolies

Concern about the size of CEO Ian Moir’s remuneration just one of the issues not dealt with at AGM this week

Ann Crotty

For a company not quite in the whole of its health – its outgoing chairman described Woolworths’ current condition as “challenging” – the shareholder turnout at the annual general meeting this week was inappropriately slim.

We all know the sophisticated institutional shareholders do all their engaging behind closed doors where there is no chance they might cause discomfort to the board with prying questions – but is that good enough these days?

It is not about embarrassing anybody. The reality is it’s probably easier to hold someone to account for a statement made in public than for a commitment made in private...

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