3 questions lodged at 2025 Web Travel Group hybrid AGM
August 27, 2025
Below is the text of the 3 written questions submitted at the 72 minute Web Travel Group (WEB) hybrid AGM held in Melbourne and via the Computershare platform at 9am on August 26, 2025. See notice of meeting. Market cap $1.6b. The proxies were released the night before, including the head count metric. No protest votes. Only previous encounter was in 2022 before the demerger when lobbed an excessive 15 questions, all but one of which were answered. No material protest votes and that meeting lasted 90 minutes with 40 minutes of Q&A. Was pleased the company produced a full transcript for the first time after that meeting. Also had a call with chair Roger Sharp after the 2022 AGM and he's been excellent on transparency and AGM disclosure ever since.
Q1. Many thanks for once again disclosing the proxy position to the ASX the night before this morning's AGM and also for including the headcount data. Whilst all resolutions were overwhelmingly supported, the data confirms how retail shareholder sentiment can sometimes differs from the proxy advisers and major shareholders on remuneration matters. The proxies show 97.8% of voted stock by 186 shareholders supported the CEO's latest LTI grant, with the 2.15% against vote on the proxies coming from 160 smaller shareholders. Did any of the smaller shareholders opposing the grant let you know why?
Answer: The chair Roger Sharp said he didn't know. Watch video of exchange via Twitter.
Q2. What was the recruitment process through which we recruited Rachel, Paul and Melanie as new directors of Web Travel Group during the year? Which recruitment firm assisted with the process and how many unsuccessful candidates did the full board interview? Also, chair Roger Sharp has been on the board for 12 years. Is he planning to offer himself for re-election when his current term expires and does he believe the next chair is currently on the board?
Answer: The chair did well in disclosing which recruitment firm assisted and it sounded like a robust and competitive process. Watch video of exchange via Twitter, plus the chair's comments on his retirement plans, which aren't imminent.
Q3. John Guscic has been CEO since 2011, so to provide useful context on this resolution, could he please briefly summarise his past LTI grants as to whether they have vested or lapsed. Also, has he ever sold any ordinary shares in the company or bought any on market without relying on an incentive scheme to build his equity position in the company? Please don't say look it up in the annual report and through ASX announcements. It's complicated over many years and John could factually summarise the situation in 60 seconds.
Answer: The chair didn't even have to invite the CEO to respond as he got straight into it. Watch video of exchange via Twitter, plus these additional comments on the LTI vesting experience.
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