6 questions lodged at 2024 Seek hybrid AGM

Q1. Did any of the 5 main proxy advisers in the Australian market - ACSI, ASA, Ownership Matters, Glass Lewis and ISS - recommend a vote against any of today's resolutions, including this remuneration report item? If so, what reasons did they give and did it cause any material protest votes? Also, please disclose the proxies to the ASX with the formals ahead of next year's AGM so we can have a more fully informed debate. Given that more than 98% of voted stock is done by proxy 48 hours before the AGM, the meeting itself is essentially an election outcome announcement event. But if you don't disclose the outcome in a timely manner, we finish up debating in the dark and having to ask questions like this one.

Answer: The chair said everyone was in favour of everything except one proxy adviser (ISS?) which opposed the equity incentive plan and delivered a 23% protest vote. Watch video of exchange via Twitter.

Q2. In terms of chair succession, which recruitment firm do I need to approach to offer my services as an external candidate or is there a Seek ad you can point me to? In all seriousness, which external recruitment firm, if any, is running the process and have we resolved to only search internally or are we casting the net far and wide. In my view, the best chair successions are internal but that relies on incumbent chairs allowing talented challenging and ambitious potential successors into the tent in the preceding years. Does Graham believe he has done that?

Answer: Acting chair Michael Wachtel played the straight bat saying it was early in the process and they had plenty of "bench strength". Watch video of exchange via Twitter.

Q3. Could CEO Ian Narev please summarise the extent and breadth of engagement he has with analysts, brokers, fund managers and institutional investors after each 6 monthly results release to the ASX? How does that compare with what he did as CBA CEO? Also, are their any notable differences in the way Seek and CBA engage with their retail shareholders. Are Seek's sticky and loyal retail shareholders getting a fair share of the attention? Finally, thank you for offering shareholders a hybrid AGM today which maximises the opportunity for retail shareholder participation.

Answer: The chair let Ian Narev have a good go and he created the impression it was too much time briefing the big end of town. Watch video of exchange via Twitter.

Q4. PwC has been our external auditor since the 2005 float. How many times have we fully tendered the audit over the past 20 years and when are we next planning to run a full competitive tender?

Answer: The chair said the board had decided that morning to conduct a full audit tender in 2025. Well, that was a well-timed question then. Watch video of exchange via Twitter.

Q5. When co-founder Andrew Bassat was last up for election as a NED in 2021, I asked him if selling 50% of IDP at $2.65 a share in the 2015 float was his biggest regret. IDP shares have subsequently fallen from $39.60 to $13.56 over the past 3 years so the opportunity cost pain is substantially reduced. 3 years ago, Andrew said the IDP sale was only one of his 3 biggest regrets. Can he at least share with investors one of his two other biggest regrets, plus also opine on what he regards as the two best decisions Seek made over the 20 year journey as a public company.

Answer: Andrew Bassat said "Indeed" was also one of his biggest regrets and the super humble guy failed to weigh in on the "best decisions" side of the story. Watch video of exchange via Twitter. Also, watch this humble campaign speech from Andrew Bassat. Class act!

Q6. Great speech, Racheal. Are you available to be chair?

Answer: Threw that one in on the fly after was super impressed with Rachael's CV and presentation. Watch video of exchange via Twitter.

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