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Second Strike For Harvey Norman, Page Re-Elected

Harvey Norman has incurred a second strike against its remuneration report following a vote at the national retailers annual general meeting, alongside Katie Page’s re-election as chief executive.

Voting results revealed 47.5% of shares lodged before the meeting voted against the remuneration report, with 90.8% voting in support of Ms Page for CEO.

GM proxy advisory firm Ownership Matter campaign to prevent Ms Page’s re-election has now been deemed a failure with a spill motion vote lost, with 88.79% voting against.

It comes after Harvey Norman reported a total sales growth of 2% to $2.44 billion, with same-store sales up by 1.7% and 0.4% in Australian franchised stores.

Harvey Norman has escaped by the skin of their teeth in this years AGM, with Gerry Harvey maintaining Harvey Norman as one of Australia’s most successful retailers.

With the board intake, Harvey Norman will continue to be a ‘family-led business’ as it has been ‘since day one’.

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