Current non-independent nominee directors of ASX300 companies
June 10, 2024
This list looks at current non-independent shareholder nominee directors of ASX300 companies, excluding founders.
Beach Energy: Seven Group Holdings has amassed a 30% stake and for this they have two of the 9 directors, Ryan Stokes and Richard Richards.
Challenger Financial Group: Japanese group Mitsui own 15% and for this they are entitled to one board seat which is currently occupied by Masahiko Kobayashi. This supportive voting bloc has enabled chair Peter Polson to over-stay his welcome.
Fortescue Metals: Dr Cao Zhiqiang is the nominated director of China's state-owned Hunan Valin Iron & Steel.
Latitude Financial Group:
Nufarm: Toshikazu Takasaki has served on the board
since 2012 representing Japanese giant Sumitomo which currently owns around 15%,
similar to the situation at Challenger.
Nine Entertainment: Bermuda-based billionaire Bruce Gordon owns 14.95% of the voting stock but has a 25.1% economic interest. For this he currently has 1 of the 6 board seats through CEO Andrew Lancaster.
REA Group: News Corp owns 61.6% of the business and for this it has 5 of the 8 directors including chair Hamish McClennan.
Seven West Media: Seven Group Holdings, which is majority owned by the Stokes family, in turn owns 41% of Seven West Media and for this it has two of the 9 directors in Kerry and Ryan Stokes with Kerry serving as chair.
Sims Group: Hiroyuki Kato is the nominated director of Mitsui after it spent $600 million on a 20% stake in 2007.
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