Cobram Estate shows AGM season proxy advice can be a slippery slope
Annual shareholder meetings often bring out the nitpickers. A push against the founder and chairman of the ASX-listed olive oil producer is a prime example.
If you want proof Australia is sabotaging its businesses and international competitiveness, driving up prices for consumers and hurting shareholder returns, open the pantry and get out the Cobram Estate olive oil.
Cobram Estate is Australia’s biggest olive farmer with 2.5 million trees across central and north-west Victoria and south-west NSW, and nearly half a million trees in California. It has harvesting, milling, bottling and marketing arms, with the two biggest brands in Australia – Cobram Estate and Red Island – and the eighth-biggest in the United States.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
