ISS has told investors not to back Bill Wavish’s nomination to the liquor and gaming giant’s board at the company’s AGM on October 31.
ISS has become the second proxy advisor to recommend shareholders vote against Bruce Mathieson-backed candidate Bill Wavish’s nomination to the board of liquor and gaming giant Endeavour Group as the stand-off between the company and its largest shareholder enters its third week.
Dan Murphy’s operator Endeavour Group is at war with its largest shareholder, Bruce Mathieson senior. The recommendation is a second blow to Mathieson and Wavish’s bid to overhaul Endeavour Group’s strategy. On Friday,that the case for Wavish’s election was not strong enough to justify change. Mathieson and Wavish point to poor retail growth compared with its rivals’, but Endeavour insists their analysis is selective and says it is unfair to use 2021 as a starting point for comparisons, given the year was time marked by pandemic restrictions where there was unprecedented demand for liquor retail.The company wrote to him last week, in a letter seen by this masthead, with a number of questions so that the board could “further its consideration” of his skills and experience.
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