Overview
- Company-released proxy results showed 67.3% opposed Anne Lloyd’s re‑election, with Rada Rodriguez and PJ Davis also failing to secure enough support.
- About 66% voted against the remuneration report, and investors blocked a CEO bonus item and a proposed US$1 million increase in board fees.
- The AGM in Dublin concluded in 17 minutes as the company defended the Azek acquisition; CEO Aaron Erter did not speak and no investor questions were taken.
- Proxy advisers Glass Lewis and ISS urged a board reset, citing governance concerns over the Azek transaction and what they called misaligned executive pay.
- James Hardie shares sit more than 30% below pre-deal levels as a US class action and ASX inquiries continue following the earnings downgrade.