(Reuters) – Proxy advisor CGI Glass Lewis has requested shareholders of Australia’s Woodside (OTC:) Vitality to vote towards the re-election of Chairman Richard Goyder and towards the corporate’s local weather technique on the annual common assembly later this month.
Glass Lewis famous that activist investor Australasian Centre for Company Duty (ACCR) opposed Goyder’s re-election, with ACCR saying final month that Woodside’s board was persistently unresponsive to shareholder considerations on local weather threat administration.
Goyder, who can be the chairman on Qantas Airways, will step down from the airline’s board in late 2024, with the Australian flag provider trying to repair its battered repute after being beset with each authorized and regulatory actions.
“Contemplating Goyder’s position as chair of Qantas, some shareholders could discover his accountability for oversight failings related in assessing his suitability because the chair of Woodside,” Glass Lewis stated in its report.
Glass Lewis’ suggestion comes after HESTA, one in every of Australia’s largest pension funds, urged Woodside final month to think about appointing new administrators who’re geared up to handle climate-related challenges.
Final 12 months, almost 49% of investor votes had been towards the corporate’s local weather plan, which Woodside put to an advisory vote for the primary time.
Woodside is about to carry its annual shareholders meet on April 24.
“The Woodside board believes Goyder is a extremely succesful and efficient chief,” a Woodside spokesperson stated on Friday.