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Qantas chairman: Don’t indulge climate activists who buy shares

written by Adam Thorn | March 4, 2020

Qantas chairman Richard Goyder has told major investors to shun climate activists who buy shares to “hijack” company AGMs.

Speaking at the Australian Governance Summit on Tuesday, he said, “Our investors have a responsibility to understand our business and engage with the substance rather than indulging activists whose purpose is not to improve the performance of our corporations but to undermine them.”

Goyder’s comments come after one in four shareholders at a Qantas AGM in October 2019 backed a resolution to stop deporting asylum seekers; and before he heads for a similar showdown with environmental activists at Woodside Petroleum, where he also serves as chairman.

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Qantas chairman Richard Goyder at the airline group's 2019 annual general meeting in Adelaide. (Qantas AGM webcast screenshot)

In his keynote speech at the Sydney event, he said climate change is the biggest issue raised to him by investors, and conceded major companies do have a responsibility to engage and manage its risks.

However, Goyder added, “Increasingly AGMs are being hijacked by activist shareholders who in some instances have only one share and require 100 shareholders to put up resolutions.

“The issues these activists raise are material issues that we already take seriously.

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“Our retail shareholders who have invested a significant part of their personal savings shouldn’t be sidelined at AGMs so activists can pursue their political agenda.

“I’d make the point here that large investors need to stand behind companies they invest in and not side with simplistic AGM resolutions.”

In October, a resolution from the Australasian Centre for Corporate Responsibility called on Qantas to review the potential “reputation, financial and legal” risk of providing transport for the Department of Home Affairs to deport asylum seekers.

Goyder responded by saying it was “impossible, and frankly inappropriate” for the airline to determine the legal status of people being deported.

He will soon have to face a showdown with Woodside shareholders who have pushed two climate-related resolutions.

Goyder is one of Australia’s most influential businessman, topping AFR Magazine’s corporate power list in 2017, and also chairs JDRF Australia, the West Australian Symphony Orchestra, and the Channel 7 Telethon Trust.

Fly into Spring with Australian Aviation’s latest print edition. Starting from $49.95 a year, you can read comprehensive coverage on all sectors of the industry to keep you in the loop. Get your hands on the subscription today. Subscribe now at australianaviation.com.au.

5 Comments

  • Joe Bloggs

    says:

    Excellent and about time someone in the position to do so spoke up against these perpetual grievance mongers. He could also clean up his own house by appointing a CEO who doesn’t see the airline business as a vehicle to pursue divisive social justice/ personal obsessions.

    • John

      says:

      Amen!!!

  • Michael Angelico

    says:

    He was my boss at Wesfarmers. Good to see he’s still pushing common sense like he always has.

  • Woodgreen

    says:

    I’m an employee and shareholder. Wish there were more of him running the Airline

  • Carole Lamming

    says:

    I wish to say. If work safe areas and procedures are aok and “heads” say all is safe let top hunchos come to the frontlines and do what they expect their workers do.

Leave a Comment

Your email address will not be published. Required fields are marked *

Qantas chairman: Don’t indulge climate activists who buy shares

written by Adam Thorn | March 4, 2020

Qantas chairman Richard Goyder has told major investors to shun climate activists who buy shares to “hijack” company AGMs.

Speaking at the Australian Governance Summit on Tuesday, he said, “Our investors have a responsibility to understand our business and engage with the substance rather than indulging activists whose purpose is not to improve the performance of our corporations but to undermine them.”

Goyder’s comments come after one in four shareholders at a Qantas AGM in October 2019 backed a resolution to stop deporting asylum seekers; and before he heads for a similar showdown with environmental activists at Woodside Petroleum, where he also serves as chairman.

Advertisement
Advertisement

Qantas chairman Richard Goyder at the airline group's 2019 annual general meeting in Adelaide. (Qantas AGM webcast screenshot)

In his keynote speech at the Sydney event, he said climate change is the biggest issue raised to him by investors, and conceded major companies do have a responsibility to engage and manage its risks.

However, Goyder added, “Increasingly AGMs are being hijacked by activist shareholders who in some instances have only one share and require 100 shareholders to put up resolutions.

“The issues these activists raise are material issues that we already take seriously.

PROMOTED CONTENT

“Our retail shareholders who have invested a significant part of their personal savings shouldn’t be sidelined at AGMs so activists can pursue their political agenda.

“I’d make the point here that large investors need to stand behind companies they invest in and not side with simplistic AGM resolutions.”

In October, a resolution from the Australasian Centre for Corporate Responsibility called on Qantas to review the potential “reputation, financial and legal” risk of providing transport for the Department of Home Affairs to deport asylum seekers.

Goyder responded by saying it was “impossible, and frankly inappropriate” for the airline to determine the legal status of people being deported.

He will soon have to face a showdown with Woodside shareholders who have pushed two climate-related resolutions.

Goyder is one of Australia’s most influential businessman, topping AFR Magazine’s corporate power list in 2017, and also chairs JDRF Australia, the West Australian Symphony Orchestra, and the Channel 7 Telethon Trust.

Fly into Spring with Australian Aviation’s latest print edition. Starting from $49.95 a year, you can read comprehensive coverage on all sectors of the industry to keep you in the loop. Get your hands on the subscription today. Subscribe now at australianaviation.com.au.

5 Comments

  • Joe Bloggs

    says:

    Excellent and about time someone in the position to do so spoke up against these perpetual grievance mongers. He could also clean up his own house by appointing a CEO who doesn’t see the airline business as a vehicle to pursue divisive social justice/ personal obsessions.

    • John

      says:

      Amen!!!

  • Michael Angelico

    says:

    He was my boss at Wesfarmers. Good to see he’s still pushing common sense like he always has.

  • Woodgreen

    says:

    I’m an employee and shareholder. Wish there were more of him running the Airline

  • Carole Lamming

    says:

    I wish to say. If work safe areas and procedures are aok and “heads” say all is safe let top hunchos come to the frontlines and do what they expect their workers do.

Leave a Comment

Your email address will not be published. Required fields are marked *

Qantas chairman: Don’t indulge climate activists who buy shares

written by Adam Thorn | March 4, 2020

Qantas chairman Richard Goyder has told major investors to shun climate activists who buy shares to “hijack” company AGMs.

Speaking at the Australian Governance Summit on Tuesday, he said, “Our investors have a responsibility to understand our business and engage with the substance rather than indulging activists whose purpose is not to improve the performance of our corporations but to undermine them.”

Goyder’s comments come after one in four shareholders at a Qantas AGM in October 2019 backed a resolution to stop deporting asylum seekers; and before he heads for a similar showdown with environmental activists at Woodside Petroleum, where he also serves as chairman.

Advertisement
Advertisement

Qantas chairman Richard Goyder at the airline group's 2019 annual general meeting in Adelaide. (Qantas AGM webcast screenshot)

In his keynote speech at the Sydney event, he said climate change is the biggest issue raised to him by investors, and conceded major companies do have a responsibility to engage and manage its risks.

However, Goyder added, “Increasingly AGMs are being hijacked by activist shareholders who in some instances have only one share and require 100 shareholders to put up resolutions.

“The issues these activists raise are material issues that we already take seriously.

PROMOTED CONTENT

“Our retail shareholders who have invested a significant part of their personal savings shouldn’t be sidelined at AGMs so activists can pursue their political agenda.

“I’d make the point here that large investors need to stand behind companies they invest in and not side with simplistic AGM resolutions.”

In October, a resolution from the Australasian Centre for Corporate Responsibility called on Qantas to review the potential “reputation, financial and legal” risk of providing transport for the Department of Home Affairs to deport asylum seekers.

Goyder responded by saying it was “impossible, and frankly inappropriate” for the airline to determine the legal status of people being deported.

He will soon have to face a showdown with Woodside shareholders who have pushed two climate-related resolutions.

Goyder is one of Australia’s most influential businessman, topping AFR Magazine’s corporate power list in 2017, and also chairs JDRF Australia, the West Australian Symphony Orchestra, and the Channel 7 Telethon Trust.

Fly into Spring with Australian Aviation’s latest print edition. Starting from $49.95 a year, you can read comprehensive coverage on all sectors of the industry to keep you in the loop. Get your hands on the subscription today. Subscribe now at australianaviation.com.au.

5 Comments

  • Joe Bloggs

    says:

    Excellent and about time someone in the position to do so spoke up against these perpetual grievance mongers. He could also clean up his own house by appointing a CEO who doesn’t see the airline business as a vehicle to pursue divisive social justice/ personal obsessions.

    • John

      says:

      Amen!!!

  • Michael Angelico

    says:

    He was my boss at Wesfarmers. Good to see he’s still pushing common sense like he always has.

  • Woodgreen

    says:

    I’m an employee and shareholder. Wish there were more of him running the Airline

  • Carole Lamming

    says:

    I wish to say. If work safe areas and procedures are aok and “heads” say all is safe let top hunchos come to the frontlines and do what they expect their workers do.

Leave a Comment

Your email address will not be published. Required fields are marked *

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