2 questions lodged at 2025 Woodside hybrid AGM
May 8, 2025
Below is the text of the 4 written questions submitted at the 135 minute Woodside Energy (WDS) hybrid AGM held in Perth on May 8, 2025 and via the Lumi platform, plus a summary of the answers and some video grabs via Twitter. See notice of meeting and voting results, with no early proxy disclosure in these formal addresses. Market cap was $38.5 billion on AGM day.
Q1. It is disappointing that you once again have failed to disclose the proxy position to the ASX along with the formal addresses, something which many ASX200 companies now do? Did any of the proxy advisers recommend against any of the 3 directors up for election today and did this lead to any material protest votes, something that media reports have suggested will occur? If this has happened, what is the chair's understanding of the reasoning?
Answer: chair Richard Goyder had a crack at Glass Lewis for recommending against Anne Pickard when they supported all Santos resolutions but rate Woodside's ESG performance above Santos on all metrics. He also revealed that Ownership Matters recommended against the remuneration report. The proxies were only flashed up at the end showing 20% against Anne Pickard and 15% against the rem report.
Q2. The AGM process today has been disappointing. Whilst a hybrid was offered, unlike Santos, there was no early disclosure of the proxies to the ASX and the agenda wasn't followed as debate was called on all 5 resolutions at once. You wouldn't do that in a board meeting. I couldn't find any copy of the webcast of last year's AGM on your website, so will you at least commit to making the full webcast available, given that hundreds of thousands of shareholders did not get the opportunity to watch it live. Finally, when disclosing the poll results, will you include the head count data like with a scheme meeting so we can see what the retail turnout and sentiment was at this meeting. Other companies like Qantas, ASX and Suncorp do this.
Answer: the question wrangler merged the two questions but ignored the first half of the second one. Watch video of how he did this via Twitter. They also said last year's AGM website was online.
Also, watch this Fiona Stanley question on climate and chair Goyder accuse the Greenpeace CEO David Ritter of breaking the law.
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