4 questions lodged at 2026 JB Hi Fi (JBH) hybrid AGM
October 29, 2026
Below is the text of the 4 written questions submitted at the 64 minute JB Hi Fi (JBH) 10am hybrid AGM at RACV Melbourne and via the Computershare platform on October 29, 2026. See notice of meeting detailing 5 items of business. The proxies were not disclosed early in the formal addresses. The only protest was 12.4% against the CEO's LTI grant. I was the only shareholder online but there was plenty of good floor questions to stop this being the 25 minute meeting they hoped for. Also, see 5 questions asked at 2025 AGM.
Q1. When will you run a proper AGM where you follow the agenda, calling for questions on each item one at a time? You don't abandon the agenda in board meetings so stop doing it at the AGM. The drop down box on the Computershare system doesn't even allow shareholders to direct questions to specific resolutions. Dealing with AGM Q&A as one job lot is poor practice, which disrespects the AGM process. This approach is not supported by the ASA and you only do it to keep your AGMs traditionally short. Will you run a conventional AGM next year?
Answer: The chair Stephen Goddard gave little ground. Watch video of exchange via Twitter.
Q2. Why didn't you disclose the proxies to the ASX along with the formal addresses as many companies now do? Please summarise the scope and breadth of your pre-AGM governance roadshow. Did any of the proxy advisers recommend a vote against any of today's resolutions? If so, what reasons did they give and did this translate into any material protest votes? Please don't say they are confidential. It is standard for companies to be across this detail on the voting recommendations and inform shareholders where relevant and I could show you examples of more than 50 chairs responding positively to this question.
Answer: The chair Stephen Goddard gave a good summary of the issues around the 12.4% LTI grant protest vote which was caused by one proxy adviser. Watch video of exchange via Twitter.
Q3. Thank you to Richard Uechtritz for his 26 years of excellent and successful service to JB Hi Fi as CEO and a director. It is always helpful for investors to have access to some exit perspectives from retiring independent directors. In his final contribution as a JB Hi Fi director, could Richard please comment on what he regards as the best 3 decisions JB made during his time with the company. If he had his time again, what would he have done differently?
Answer: JB weren't planning to let the legendary Richard Uechtritz say anything so glad I asked this as he served up a very interesting 5 minutes. Watch video of how it began via Twitter, plus these additional comments and then his closing remarks on the staff giving program.
Q4. Could Terry Smart please comment on what steps he is taking to ensure he doesn't over-shadow the CEO in board discussions, given his vast experience with the company? It is unusual to have former CEOs sitting on a board. Has Richard given Terry any guidance on how to navigate these issues? During his time away from JB, how did Terry stay across the issues? Did he have regular catch-ups with Nick to assist with the CEO transition? Will these end now that he is just one of several non-executive directors? Finally, how is Terry enjoying being on the opposite side of the table in board meetings, including in various committees?
Answer: Compared to Richard, Terry was pretty brief but good to get him talking and welcome back, legend. Watch video of exchange via Twitter.
Copyright © 2026 The Mayne Report. All rights reserved
