5 questions lodged at 2026 Ampol (ALD) hybrid AGM
May 20, 2026
Below is the text of the 5 written questions submitted at the 50 minute Ampol (ALD) 10am hybrid AGM at The Mint in Sydney and via the open briefings online platform on May 14, 2026. See notice of meeting. No protest votes and see text 5 written questions asked in 2025, plus these 6 questions asked at 2024 AGM. Only own 4 shares. Voted via MUFG on April 26. Market cap was $8.1b on AGM day. The proxies were disclosed early in the formal addresses with the biggest against vote being 5.87% on the re-election of Kiwi director Simon Allen. It has been many years since Ampol had a material protest vote. No head count data in these poll results.
Q1. Rio Tinto has a policy of mandatory audit tenders every 10 years and mandatory audit changes every 20 years. Do we have a similar policy? When did we last tender the external audit and when are we next likely to tender the audit?
Answer: Chair Steven Gregg said they have no such policy and CEO Matt Halliday partly answered this, pointing to mandatory auditor tenure limits in the UK and the 5 year partner rotations system in Australia. Neither of them actually answered the question when it should have been the audit committee chair who stepped in to deal with this question. Hopefully they'll read this and email through an answer to Stephen@maynereport.com without having to be asked. Watch video of exchange via Twitter.
Q2. 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 the amount of time and effort Ampol puts into its 34,782 retail shareholders? Also, out of respect for your retail shareholders, could you please disclose the head count data with today's poll results to show how many of us voted and what the retail sentiment was, particularly on the remuneration items?
Answer: The CEO Matt Halliday gave an overly brief response and suggested retail engagement came through retail brokers. Really. Aren't they more big end of town catch ups? They ignored the head count request so had to circle back to that in question 4. Watch video of exchange via Twitter.
Q3. Why won't Simon Allen embrace remuneration report voting as chair of Channel Infrastructure in NZ? Doesn't he agree it works well at IAG and Ampol?
Answer: This didn't land well as Simon no longer chairs Channel Infrastructure. My bad. However, he agreed rem report voting works well at IAG and Ampol. The campaign to get Kiwi directors and companies to voluntarily embrace remuneration report voting will continue. Watch video of exchange via Twitter.
Q4. Thank you for disclosing the proxies early to the ASX and well done for achieving strong voting support on all items, something that has happened for many years. Thank you also for following the agenda & calling for questions individually on each item, something the chair doesn't do at Westpac. You didn't answer the head count question before. Will you voluntarily disclose how many shareholders vote for & against this & all items. If you do this, you'll be at AGM best practice (see this list) along with Computershare, Helia, Suncorp, Myer and Stockland?
Answer: The chair Steven Gregg suggested we had too much engagement at last year's Westpac AGM (it was a rare floor appearance in Sydney that comprised 19 minutes across two visits to the microphone) and again resisted head count disclosure. Why? What's the problem if all these other companies can do it? Watch video of exchange via Twitter.
Q5. Thank you to Melinda Conrad for her 9 years of service on the board. It is always helpful for investors to have access to some exit perspectives from retiring independent directors. In her final contribution as an Ampol director, could Melinda please comment on what she regards as the best 2 decisions Ampol made during her time on the board and, if she had time again, what does she believe Ampol should have done differently? Finally, could the chair confirm that he won't be seeking a 5th term on the board when his current term expires in 2028?
Answer: When directors retire at the end of a 3 year term it is usually at the end of the AGM but Ampol chair Steven Gregg today claimed Melinda Conrad had already left the board. She therefore didn't answer this exit reflections question despite being in the room. Poor effort. Watch video of exchange via Twitter. On the second part, isn't it strange how tenure limits stringently apply to female directors but lots of blokes get extensions. Melinda Conrad bowed out at Ampol after 9 years and 3 terms while her chair Steven Gregg motors on after 11 years. His slightly flippant answer was: "I don't intend to seek a 5th term, but you never know". Watch video of exchange via Twitter.
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