5 questions lodged at 2025 Mercury hybrid AGM
September 27, 2025
Below is the text of the 5 written questions submitted at the Mercury (MCY) hybrid AGM held at 1pm NZ time at Eden Park and via Computershare. See notice of meeting. Market cap $8.8b.
Q1. New Zealand is regarded as a governance backwater by some Australian investors for refusing to mandate annual voting on remuneration reports, which is standard in many countries. Why won't you follow the lead of Xero and voluntarily give shareholders a non-binding vote on our remuneration policies. Have any other investors requested a remuneration report vote and has this ever been discussed at board level?
Answer: The chair... Watch video of exchange via Twitter.
Q2. Having joined the board in 2017, is this Scott St John's last three year term on the board or does he have aspirations to serve for more than 11 years and seek a further 3 year term in September 2028.
Answer: The chair... Watch video of exchange via Twitter.
Q3. Why did Lorraine Witten resign from the board in August, after serving less than 3 years and without completing her current term which was due to expire today? And why did the May 15 ASX announcement provide no explanation? It is not a good look for relatively newly appointed directors to resign without explanation.
Answer: The chair... Watch video of exchange via Twitter.
Q4. Thank you to James Miller for his 13 years of service on this board, which finishes today. And thank you to
Answer: The chair... Watch video of exchange via Twitter.
Q5. Given that the New Zealand Government owns a legislated minimum 51% stake in the company, what say did the government have on this year's appointments of Rachel Taulelei and Rob Hamilton as new directors to the Mercury board, both of whom will be formally elected today. Did we used a head hunter to assist with the recruitment process and which of our current directors did Rachel and Rob know before engaging with the recruitment process?
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