The annual shareholder meeting of Scentre Group, formerly known as Westfield, held in Sydney saw investor David Kingston questioning the poor performance of the company over the past five years and the future of shopping malls. CEO Elliott Rusanow denied that malls were dying due to COVID-19 and shareholder agitator Stephen Mayne suggested reverting to the old name Westfield, which was bought in a takeover. The board also faced a remuneration strike, with just 72% of investors voting in favor of the company’s remuneration report, which Chair Ilana Atlas promised to address by talking to major proxy advisers.
Hancock Prospecting, owned by Gina Rinehart, the richest person in Australia, hired lobbyists from GRA Partners, a Perth-based firm chaired by Dixie Marshall and with former political figures like Eric Ripper and Jason Marocchi among its ranks. Rinehart has expressed displeasure with the Albanese government’s attitude towards the mining sector, leading to the hiring of the lobbying firm. The firm’s approach in dealings with ministers is likened to Peta Credlin’s style, and while details of the work they are doing for Rinehart remain undisclosed, the strong Perthonalities within the firm suggest a focus on West Australian interests.
The board of Scentre Group faced tough questions at the shareholder meeting, with concerns raised about the company’s performance and the future of shopping malls, which CEO Rusanow denied were dying due to COVID-19. Shareholder Mayne suggested reverting to the old name Westfield, but was reminded that it was purchased in a previous takeover. The board also had to deal with a remuneration strike, with only 72% of investors voting in favor of the company’s remuneration report, prompting Chair Atlas to vow to address the discontent by speaking with major proxy advisors in the coming months.
Hancock Prospecting, the business owned by Gina Rinehart, has hired lobbyists from GRA Partners, a Perth-based firm with a strong cast of political figures among its ranks. Rinehart has expressed frustration with the Albanese government’s policies towards the mining sector, leading to the hiring of the lobbying firm. Despite the strong representation within the firm, details of the work they are doing for Rinehart remain undisclosed, with a focus likely on advancing West Australian interests.
The tough questions faced by the board of Scentre Group at the shareholder meeting centered on the company’s poor performance over the past five years and the future of shopping malls. CEO Rusanow denied that malls were dying due to COVID-19, sparking suggestions from shareholders like Mayne to revert to the old name Westfield. A remuneration strike was also a point of contention, with only 72% of investors voting in favor of the company’s remuneration report, prompting Chair Atlas to pledge to address the discontent by speaking with major proxy advisors.
Hancock Prospecting, the business owned by Gina Rinehart, hired lobbyists from GRA Partners, a Perth-based firm with a strong cast of political figures among its ranks. Rinehart has expressed dissatisfaction with the Albanese government’s policies towards the mining sector, prompting the hiring of the lobbying firm. While details of the work they are doing for Rinehart remain undisclosed, the firm’s strong representation suggests a focus on advancing West Australian interests and navigating the corridors of power in the nation’s capital.
