Westpac Board Under Pressure Even After CEO’s Resignation

The transcript discusses the departure of two independent directors from a company's board and the influence of proxy advisory firms on shareholder voting. These firms guide shareholders, including institutional investors, on voting decisions, significantly impacting board elections. Westpac faces reputational challenges, with a significant shareholder vote approaching. The outcome could lead to board changes, as previous AGMs showed strong opposition to the current board. The company must demonstrate credible action to regain shareholder trust.

What percentage of the stock is held by superannuation investors and institutional funds combined?

What actions must the board take to regain shareholder trust?