2 questions lodged at 2026 Future Generation Australia (FGX) hybrid AGM
May 20, 2026
Below is the text of the 2 written questions submitted at the 22 minute Future Generation Australia (FGX) 10am hybrid AGM held in Sydney and via this Lumi link on May 20, 2026. Former RBA Governor Dr Philip Lowe chairs the company. Lodged this board nomination letter at 4.55pm on March 25. Had a 37 minute call with CEO Kate Thorley late on Friday, March 27 and met with Geoff Wilson for 45 minutes in Sydney on April 10. Received an email from Kate Thorley on April 7 confirming the platform would be run as submitted, which it was in this very fairly constructed notice of meeting. Market cap $540m on AGM day. The proxies were not disclosed early in these formal addresses and ended up receiving 5.01% support from 74 voting shareholders. Also, see text of 3 questions submitted at 2025 AGM. No protest votes last year.
Q1. Does Gabriel Radzyminski agree that best practice is to have a majority of independent directors and an independent chair? Does he advocate for this on other boards he sits on?
Answer: Asked this question of both directors up for election. Here's the response from old activist mate Gabriel Radzyminski, who said he does often campaign for this outcome. Watch video of exchange via Twitter.
Q2. Why does WAM CEO Kate Thorley need to sit on this board and various other Wilson LICs? Does she agree that best practice is to have a majority of independent directors and an independent chair, rather than too many non-independent directors such as herself?
Answer: Geoff Wilson's WAM CEO Kate Thorley sits on most of his LIC boards despite not being independent. She gave an unconvincing response to this question when asked to defend the position. WAM takes $80m+ a year in management fees from their listed LICs and Geoff Wilson chairs most of them, with his long-serving CEO Kate Thorley by his side providing voting support if the 1, 2 or 3 independent directors, who they've hand-picked, start raising issues such as lowering the management fees. This situation needs reform. Watch video of exchange via Twitter.
How the board nomination played out at the AGM
I've been bed-ridden with a crook back this week so have missed quite a few AGMs and only made a last minute decision to take some extra pain-killers and watch this meeting. The two brief questions above were lodged via Lumi but when it came to my own election, I wasn't up for speaking to the motion, particularly given that the full platform had been commendably run in full in the notice of meeting. I was busily filming chair Philip Lowe dealing with the resolution so wasn't in a position to send a message either, leading to this AGM awkwardness (watch video of exchange via Twitter) as they called for me to speak via Lumi, but received no response. We probably should have sorted this out ahead of time, which is what usually happens if I'm attending a physical AGM after nominating for a board or there is online access.
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