Business
Cromwell board torpedoed in AGM bloodbath – The Australian Financial Review
The Brisbane fund manager has been at odds with its major shareholder for close to two years, accusing it of pursuing a ‘takeover by stealth’.
Veteran director Gary Weiss, the brilliant lawyer who made his name as a corporate raider, and Joe Gersh, an investment banker and ABC board member, were nominated by ARA and narrowly voted into the boardroom at a meeting in September.
At the meeting on Wednesday the remuneration report was also voted down for the second year running, triggering a spill motion that won overwhelming support.
As a result, three remaining board members must face another shareholder meeting for re-election within three…
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