Current non-independent nominee directors of ASX300 companies

April 16, 2022

This list looks at current non-independent shareholder nominee directors of ASX300 companies, excluding founders.

Beach Energy: Seven Group Holdings has amassed a 28% stake and for this they have two of the 9 directors, Ryan Stokes and Richard Richards.

Boral: Seven Group Holdings has amassed a 70% stake but only have two nominee directors, including Ryan Stokes as the chair.

Challenger Financial Group: Japanese group Mitsui own 15% and for this they are entitled to one board seat which is currently occupied by Masahiko Kobayashi. This supportive voting bloc has enabled chair Peter Polson to over-stay his welcome.

Fortescue Metals: Dr Cao Zhiqiang is the nominated director of China's state-owned Hunan Valin Iron & Steel.

Nufarm: Toshikazu Takasaki has served on the board since 2012 representing Japanese giant Sumitomo which currently owns around 15%, similar to the situation at Challenger.

REA Group: News Corp owns 61.6% of the business and for this it has 5 of the 8 directors including chair Hamish McClennan.

Seven West Media: Seven Group Holdings, which is majority owned by the Stokes family, in turn owns 41% of Seven West Media and for this it has two of the 9 directors in Kerry and Ryan Stokes with Kerry serving as chair.

Sims Group: Hiroyuki Kato is the nominated director of Mitsui after it spent $600 million on a 20% stake in 2007.

Ventia Services: floated in November 2021 and CIMIC Group initially negotiated to have 2 nominee directors, Ignacio Surinach and Robert Cotterill, for its 30% stake but this was then dropped in April 2022 when the parties agreed that they were increasingly competing against each other.