Games Workshop faces shareholder revolt ahead of AGM

595
Games Workshop faces shareholder revolt ahead of AGM
Shareholders will vote at an AGM on Wednesday.
// Two advisory firms recommending Games Workshop vote against re-election of chairman Nick Donaldson
// Donaldson’s has been chairman since 2017 but he has been on Games Workshop board for 18 years

Games Workshop is facing a potential shareholder revolt after its investors were reportedly advised to vote against its chairman when it meets for the AGM this week.

According to The Sunday Times, advisory firm Institutional Shareholder Services (ISS) questioned whether Nick Donaldson has enough independence for the role and his ability to multitask as he sits on other boards.

Donaldson’s has been chairman since 2017 but he has been on the board for 18 years.


READ MORE: 


This is well above the nine years often regarded as the point when a non-executive director can no longer be regarded as “independent”.

ISS reportedly advised shareholders to vote against Donaldson’s re-election to Games Workshop’s board of directors.

Another advisory firm, Glass Lewis, has also recommended shareholders vote against Donaldson’s re-election, The Times reported.

During the retailer’s AGM last year, 25 per cent of shareholders votes against his re-election.

Games Workshop has previously Donaldson would stand down by next year’s AGM, but has always attended board meetings in the meantime.

Donaldson also sits on the board of DP Poland and an executive director at Fulham Shore, the company behind Real Greek and Franco Manca.

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here