2 questions lodged at 2025 Chorus hybrid AGM
November 9, 2025
Below is the text of the 2 written questions submitted at the 60 minute Chorus (CNU) hybrid AGM held at 10am NZ time in Auckland and via the Computershare platform on November 5, 2025. Market cap $3.6b. . See notice of meeting and voting results with biggest protest 7.4% against chair Mark Cross. The proxies were not disclosed early in these formal addresses. The NZ Government owns 61% of the Kiwi equivalent of Australia's NBN plus Telstra's old copper network and has announced plans to sell down. Also lodged 3 questions at the 2024 AGM.
Q1. How many full time equivalent staff do we currently have and is this likely to fall over the coming 12 months with the rapid roll out of AI? Which parts of our business and operations are the most prospective for AI productivity gains and how energetically are we embracing those opportunities?
Answer: The chair Mark Cross handed this straight to CEO Mark Aue who provided a good summary including that they cut their FTEs by 10% to around 750 last year. Watch video of exchange via Twitter.
Q2. 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. This issue was raised last year but still you haven't followed the lead of Xero and Fletcher Building and voluntarily introduced a non-binding vote on a remuneration report. Why not? Have any other investors requested a remuneration report vote?
Answer: The chair Mark Cross said this issue was raised by the proxy advisers, they had decided not to move on it yet but when closed minded about it going forward. Watch video of exchange via Twitter.
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