17 July, 2023
VFMC Chairman announces resignation
Today, VFMC is announcing James MacKenzie’s retirement from his role as Chair of the...
read articleProxy Voting Record
Voting at company Annual General Meetings (AGMs) provides investors like VFMC with a formal means to exercise ownership rights, hold company management accountable and potentially send a signal on any issues at hand. Contentious issues can arise for resolutions being voted on, and companies can be encouraged to respond if/where strong investor support is not received.
Key voting themes over 2021- 2022 focussed on:
- Shareholder requisitioned resolutions (e.g., regarding climate risk management and human rights)
- Executive remuneration
- Director appointments (skills, capacity, diversity, accountability)
- Managing human capital (e.g., workforce wellbeing, diversity, retaining talent, remuneration).
For the 2021-2022 financial year, VFMC voted on 1,164 Australian resolutions and 5,144 international resolutions.
VFMC Australian Proxy Voting Statistics July 2021 – June 2022
The table below provides an overview of voting statistics for the twelve months ended 30 June 2022.
| Australia |
|---|
| Type of resolution | Total | For | Against | Abstain | Take no action |
|---|---|---|---|---|---|
| Number of meetings | 221 | ||||
| Number of resolutions voted on | 1164 | 961 | 164 | 26 | 13 |
| Director elections | 480 | 427 | 47 | 3 | 3 |
| Remuneration reports / other remuneration matters | 476 | 399 | 60 | 12 | 5 |
| Shareholder resolutions | 36 | 2 | 32 | 2 | 0 |
| Other | 172 | 133 | 25 | 9 | 5 |