PREMIUM!

Wiese gallops through last AGM

Business News 2 weeks ago

Recently appointed Wendy Lucas-Bull has assumed the role of chair after AGM.


18 Nov 2020
PREMIUM!
Wiese gallops through last AGM

Shoprite said Christo Wiese will step down as chairperson of its board after the company's annual general meeting (AGM) scheduled for the 16th of November, but will remain on the board as a non-executive director. File image.

A virtual event during which shareholders were obliged to send through written questions ensured Shoprite’s 2020 annual general meeting (AGM) would be a tame affair, particularly compared to the thrills and spills of the 2019 AGM. At last year’s long-drawn-out meeting activist shareholders challenged the 40-year dominance of group chair Christo Wiese in dramatic fashion. This year’s AGM would actually have been an extremely brief affair if one of the shareholders in attendance hadn’t implored Wiese to slow down and allow more time for questions. Such is the contrived nature of written-questions-only virtual AGMs that time is needed for the...

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