Welcome to KWM's Deep Dive into ASX200 AGMs in 2024
Against global activism trends and recent AGM seasons, 2024's ASX200 meetings might initially appear uneventful.
A closer look, however, reveals a vocal new activist on the scene, significant interest by shareholders in nature-related considerations, and a heightened focus by regulators on notice of meeting compliance, AGM timing and virtual-only meetings.
With public and political debate centred around cost-of-living pressures, companies continue to face elevated public scrutiny - of board conduct and executive pay in particular.
Combined with new remuneration disclosure requirements, companies may face increased attention on pay in the upcoming AGM season.
In our latest edition of this report, we share our reflections of the latest issues and emerging trends faced by ASX200 companies during the 2024 AGM season.
Key insights
1. Hybrid meeting preference
Hybrid AGMs were generally preferred with 63% opting for this format (with some sector-specific preferences) while virtual-only meetings remained unusual, often selected by companies with international operations.
2. Director support
Average support for director elections and re-elections was 95%, reflecting a stable leadership environment.
3 Remuneration strikes
Strikes on remuneration reports remain high, indicating ongoing scrutiny over executive pay amid economic pressures.
4. ESG resolutions
In line with recent trends, requisitioned ESG resolutions focused on climate and nature.
5. Constitution refreshes
There is continued appetite for constitution refresh amongst ASX200 companies and their shareholders, where the changes are appropriate and align with regulatory and commercial developments.
Download the full report below to explore our full analysis on the 2024 AGM season and what it means for you as 2025 gets under way.
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6.79MB, 10 Pages
