This article is from the Australian Property Journal archive
MIRVAC'S major shareholder Maxim Asset Management will seek to put forward a resolution at a general meeting to remove James MacKenzie as chairman after receiving an unsatisfactory response from the group.
Maxim AM’s managing director Winston Sammut said Mirvac’s continued lack of disclosure on the resignation of CEO Nick Collishaw and the group’s failure to address key concerns has left Maxim AM with no option but to pursue a course of action to remove the chairman.
In an email response to the Mirvac’s board, Sammut said,
“None of your comments contained new information as these were the points covered by Chairman MacKenzie at my recent meeting with he and Mr. Andrew Butler last week. Accordingly they do not shed any additional light on the real issues at hand. Furthermore, your reply seem to contains answers to questions not asked by me whilst failing to answer questions I have asked.
“At this point, it is appropriate that I should draw your attention to the fact that at no stage have I made any comment (either positive or negative) about Ms. Susan Lloyd-Hurwitz, nor of her reputation nor of her credentials other than to seek to clarify her starting date.
“Of great disappointment is the fact that your reply, on behalf of the Board, contains no mention of my request for a meeting. At the end of the day it is shareholders who own a company and I have been buoyed by the amount of support received over recent days,”
Sammut said Maxim AM will also pursue a course of action to vote against the existing directors who are up for re-election at the upcoming AGM.
Property Review