3 questions lodged at 2026 Car Group (CAR) hybrid AGM
November 2, 2026
Below is the text of the 3 written questions submitted at the 52 minute Car Group (CAR) 11am hybrid AGM held at the company's HQ in Melbourne and via the Computershare platform on October 30, 2026. See notice of meeting detailing 6 resolutions. Market cap $9.1b on AGM day. See 4 questions asked at 2025 AGM. The proxies were disclosed early in a separate announcement from the formal addresses, which is best practice. The only protest vote was 11.7% against the CEO's LTI grant as is explained in question 3.
Q1. Thank you for disclosing the proxies early to the ASX and well done to Wal Pisciotta for being re-elected with 98% of directed proxies in favour. I'm surprised all the box tickers are tolerating his non-independence. Could Wal comment on whether he intends to serve a full 3 year term. Is this likely to be his final term? Could he also briefly summarise his full investment history with Car Group and whether we are likely to see any further sales during his next 3 year term on the board?
Answer: Have enjoyed engaging with Car Group co founder and largest individual shareholder Wal Pisciotta over the years. Lobbed a few questions when he was up for re-election today and he thanked me for providing “an interesting AGM”. Watch video of exchange via Twitter, plus these additional comments by Wal.
Q2. My experience of chair Pat O'Sullivan at multiple AGMs is that he seems really annoyed to receive AGM questions, speaks very quickly and offers overly brief responses. I've no doubt he's a very smart business figure and has a good track record, but as the only independent director up for election today, could Susan please comment on what Pat is like in board meetings. Is it the same as my experience asking him questions at AGMs?
Answer: Pat O'Sullivan is the only public company chair who has dismissively responded to a written question with “yeah, great question Stephen, next question please”. That was Tech One earlier this year. Hence this question at the Car Group AGM. Fabulous unscripted answer from Susan Massasso, who provided a thoughtful defence of Pat's leadership style. Watch video of exchange via Twitter.
Q3. The only proxy protest vote today was 11.7% against this LTI grant. Which proxy adviser recommended against and what was the issue?
Answer: It was Ownership Matters which caused the only protest vote at Car Group. This time it was an excellent explanation from the always brief and fast talking chair Pat O'Sullivan. Watch video of exchange via Twitter.
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