5 questions lodged at 2026 Fleet Partners hybrid AGM
January 25, 2026
Below is the text of the 5 written questions submitted at the 53 minute Fleet Partners (FPR) 10am hybrid AGM in Sydney via Link on January 22, 2026. See notice of meeting. Market cap was $596m on AGM day. The proxies were not disclosed early in these formal addresses and there were no protest votes in 2026 and they stuck with delivering headcount voting data. A year earlier at the 2025 AGM, they withdrew the constitutional amendment to allow for virtual AGMs. There were also no protest votes in 2025 and they provided shareholder voting numbers for the first time. See text of 7 questions asked last year.
Q1. Gail has been on the board for 10 years. Is she intending to serve a further 3 year term as chair and what is the board's policy in terms of tenure limits and chair succession? Does Gail believe the next Fleet Partners chair is currently on the board and do we have any external recruitment firm currently engaged to assist with chair succession and board renewal?
Answer: The chair said they have no formal policy on director tenure and her scripted remarks said this will "likely" be her final term. She said multiple potential successors were on the board and no recruitment firm was currently assisting with chair succession. Listen to audio of exchange via Twitter.
Q2. Which of the proxy advisers issued reports ahead of this meeting and were there any recommendations against any items of business, including this remuneration report item? If so, what were the concerns raised? Also, why didn't you disclose the proxy position earlier along with the formal addresses to allow for a more fully informed AGM debate and provide more timely market disclosure? Given the likes of Computershare, Myer, Stockland, NAB, Origin, ASX and many others do this, will you follow their lead at next year's AGM?
Answer: The chair Gail Pemberton provided a good summary saying she met with the 4 main proxy advisers who all recommended in favour of all items, although one raised a lack of transparency in the STI metrics. Listen to audio of exchange via Twitter.
Q3. Thank you for once again offering a best practice hybrid AGM and also for opening online questions and voting half an hour before the meeting commenced, a practice which maximises retail shareholder voting participation. Will you continue last year's excellent practice of disclosing the headcount data with the poll results and are you still opposed to publishing a copy of the AGM webcast on your website? If so, please explain why when AGM webcast disclosure is standard practice and basic transparency.
Answer: If Fleet Partners published the proxy votes earlier and a copy of the AGM webcast online, they'd be at AGM best practice. Amazed to hear the chair of a $600m company cite “cost” as the reason for not publishing the webcast. It's a live streamed hybrid for goodness sake. How hard can it be? At least they continued with headcount disclosure in the poll results. Listen to audio of exchange via Twitter.
Q4. Will the chair agree to marginally delay next year's AGM so we don't have the situation of the deadline for board nominations on November 17 coinciding with the release of the full year results on the same day. It is poor practice to not give shareholders enough time to digest the performance of the directors before deciding whether to nominate for the board and contest their positions. The ASX agreed to delay its AGM two years ago to satisfy a similar request. Will you take this request on board for serious consideration?
Answer: This was first pitched at both of the director elections but the question wrangler and legal counsel Annemarie Kernot ignored it, so it was instead dealt with in general business at the end. Surprisingly, CEO Damien Berrell jumped in to say it would be taken into consideration for next year's AGM. Listen to audio of exchange via Twitter.
Q5. Could the CEO please summarise the extent and breadth of engagement he has with analysts, brokers, fund managers and institutional investors after each 6 monthly results release to the ASX? How does that compare with what the company does for its circa 4,500 retail investors? What is your approach to holding an investor day and will retail investors be invited to the next one?
Answer: The CEO Damien Berrell gave a relatively brief summary but the the best he could offer on retail shareholder engagement was briefings with retail brokers given rising interest since they started paying dividends. He said they have no plans to conduct an investor day. Listen to audio of exchange via Twitter.
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