Who is going to the Qantas AGM in 2023?

[Quickstatus]

A proxy doesn't need to be a shareholder.

Correct.
Unfortunately a lot of people don't know that under the Corporations Act, a non shareholder can act as a Proxy. Thats what a lot of institutional shareholddrs do - they appoint someone, often a lawyer/accountant or someone from an advisory firm to be their proxy.

 

[VPS]

Qantas Board member and brand expert Todd Sampson is up for re-election this year. Facing some opposition

Proxy firm tells Qantas investors to vote against Sampson

Marketing guru Todd Sampson is the next Qantas director who could feel the ire of shareholders at the company’s annual meeting next month.

www.afr.com

For someone who carries on about brand names on Gruen I don't think he's doing a great job in keeping them customer focused

 

[RooFlyer]

Qantas AGM is this Friday.

The proxy advisors have been busy and The Australian on-line reports some large funds have (actual shareholdings not reported) have signalled either voting for a strike against the remuneration report and/or not supporting the re-election of certain directors.

Also, the airline's defence against the ACCC action on 'ghost flights' was lodged last Friday, but not yet available through the courts.

Qantas reputation on the line in defence of ‘ghost flight’ ACCC case

A few snippets:

Qantas’s law firm Johnson Winter & Slattery on Friday night lodged the long-awaited defence in the competition regulator’s landmark legal action that alleged the airline intentionally sold fares for “ghost flights”, or flights that had already been cancelled.

The statement of defence – not yet available through the court – will outline the airline’s legal strategy and set the tone for the battle to come. This could range from seeing through a full defence and probably ending up in a court hearing, or seeking to avoid a distracting court battle by agreeing to the ACCC’s key legal points.

The Californian stake-backed mega-funds CalPERS and CalSTRS each plan to vote down Qantas’s remuneration report and have also moved against Sampson.

The two US funds have gone a step further than Australian super funds by also signalling that they intend to vote against relatively new director Belinda Hutchinson, who is also seeking shareholder support to extend her term.

CalSTRS, the $US308bn ($486bn) fund that mostly counts teachers as members, is also taking aim at former long-serving American Airlines boss Doug Parker, who only joined the Qantas board in May.

Florida SBA, meanwhile, intends to vote down the remuneration report given the board has a “poor alignment” with a licence to operate. It also plans to vote down the awarding of up to 335,000 share rights to new CEO Hudson given lack of disclosure around targets.

Meanwhile, the New York fund that invests hundreds of billions of dollars on behalf of the city’s workers will issue its final voting position on Qantas in coming days.

The chances of support from New York City as well as the state’s retirement fund are slender: New York was one of a handful of big funds that delivered a protest vote against Qantas in each of the past two years.

 

[Catardale]

The Board is safe. Ma and Pa investors will have no sway. They are probably more interested in the tea and bickies anyway. The big end of town should be pretty happy

Some will, be but four are getting out before they get tapped on the shoulder (L’Estrage in Nov, Brenner and Hay in Feb and Goyder has laughably announced that he will go when I win the Melbourne Cup, so that’s November next year). I suspect Sampson hasn’t bothered getting the dates of next year’s Board meetings just yet as he may not need to book travel and accommodation.

 

[RooFlyer]

If you want to watch the proceedings of the AGM, there is a link to attend on-line as a guest at

Qantas Investors | Investor Centre

investor.qantas.com

Commences at 11:00am AEDT

 

[Princess Fiona]

If you want to watch the proceedings of the AGM, there is a link to attend on-line as a guest at

Qantas Investors | Investor Centre

investor.qantas.com

Commences at 11:00am AEDT

Thank you!! It works perfectly

 

[RooFlyer]

Chairman Goyder in his opening remarks acknowledges that "there will be an overwhelming rejection of the remuneration report". Doesn't mean anything this year, but if its repeated next year, it will result in a mandatory Board spill.

 

[levelnine]

Hudson: Permanent improvements to the Qantas Frequent Flyer program. Announced next year.

Translation: Devaluation arriving early 2024.

 

[RooFlyer]

CEO Hudson sounds nervous but very positive. Has announced serious consideration to bringing more of the call centres 'home'

 

[aus_flyer]

Chairman Goyder in his opening remarks acknowledges that "there will be an overwhelming rejection of the remuneration report". Doesn't mean anything this year, but if its repeated next year, it will result in a mandatory Board spill.

Not quite. Another rejection next year will mean a separate vote on spilling the board. Voting down the rem report doesn't do it alone.

 

[RooFlyer]

Nuisance shareholder making a speech not a question. Annoying for everyone, esp those waiting to ask a question.

Post automatically merged: Nov 3, 2023

Not quite. Another rejection next year will mean a separate vote on spilling the board. Voting down the rem report doesn't do it alone.

Yes - my mistake, sorry.

 

[aus_flyer]

I'm amazed there are NO announcements. Normally Qantas would announce SOMETHING

 

[levelnine]

Nuisance shareholder making a speech not a question. Annoying for everyone, esp those waiting to ask a question.

Probably an AFF member

 

[CMA222]

Thank you!! It works perfectly

Clearly not set up by QF IT department.

 

[kangarooflyer88]

Just thought I’d start this thread to cover the Qantas Annual General Meeting (AGM) which is happening right now in Melbourne. What will be interesting to see is whether all board members and executives keep their posts and what remuneration will be deemed adequate for them (along with outgoing CEO Uncle Alan)

Qantas for its part has released an agenda of the AGM which should serve as an initial appetizer:

https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgyw/file/agm/notice-of-meeting-2023.pdf

Bon appetite!

-RooFlyer88

 

[RooFlyer]

After two on-line questions: "Chair, there are no more on-line questions".

 

[brokenagain]

The utter contempt shown towards Network Aviation pilots in their current EBA negotiations shows that Hudson’s words are completely empty. She is Joyce with a wig.

 

[RooFlyer]

Cracker of a question/statement from the floor about first, keeping an eye in the rear view mirror for enemies coming from behind (Chair said previously that aircraft don't have rear vision mirrors, just two windows looking straight ahead, to indicate their intention) . Questioner asked for a show of hands as to which of the Board had flown internationally in the past year in Economy, as demonstration as to how they are actually relating to customer experiences. We didn't see the show of hands, but I think there was one hand raised and Chair acknowledged the point.

Now from the floor a stream of admiration for Doug Parker then another monologue from someone else about customer service and re-instatement of lost FF points. This guy seems to he a bit of sel-importance.

 

[RooFlyer]

Question from on-line about lack of dividend paid this year. Chair replied first about accumulated losses during Covid resulting in not being in a tax paying position then said "best way to benefit shareholders" ATM is through the current buyback, due to that tax position.

 

[CaptJCool]

Now Why would I fly Y when I can fly J or F?

So clearly the board never asked themselves Y, Y, Y

They simply don’t know Y

It’s not on the “Felt Board”

The GA has some transcripts too

Australia news live: Qantas shareholders shout ‘shame on you’ at chairman for shutting down question on Alan Joyce’s shares

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www.theguardian.com