After chairing Qantas during a period when it fell from grace, Richard Goyder is under intense pressure for the second time in less than a year.
Next month, shareholders of our largest oil and gas company, Woodside Energy, will vote on two highly controversial and important items – the company’s climate transition strategy and the future of its chairman, Richard Goyder.
For Goyder, this is arguably the most important shareholder vote in his long career at the helm of numerous listed companies. For the second time in less than a year, he is under intense pressure. If there is a significant vote against the climate plan, it surely does reflect heavily on the directors who have overseen it, and particularly on the chairman who sits at the head of the board table.But not all shareholders who take the view that Woodside has failed to develop a credible climate strategy will hold Goyder sufficiently accountable to warrant toppling him.The election betting says he will suffer a large-ish protest vote but will comfortably make it across the line.
The Australian Centre for Corporate Responsibility accounts for a tiny proportion of the company’s shares, but it remains an influential lobby for action on climate.
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