If Telstra is the warm-up for the big Qantas AGM event next month, chairman Richard Goyder will be bracing for impact.
Brenner has been something of a darling of the non-executive-director club since getting her start on the board of Orica more than 10 years ago.
With a 17 per cent vote against her, Brenner’s position at Telstra was demonstrably safe – it fell well short of the 50 per cent needed to remove her. The potential for a decent-sized vote against Brenner at Telstra was already on the radar. It followed a report from influential shareholder proxy adviser ISS that argued against Brenner’s election noting “material failures of governance, board and risk oversight and fiduciary duties” at Qantas, where she has been a director since August 2013.
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