Eagers execs’ share loans too profitable to go unnoticed
One of the world’s biggest proxy advice firms has taken aim at Eagers. But the drive-by misses the point: management’s alignment with shareholders is good.
Eagers Automotive is flying. Revenue at the car dealership network should hit $12 billion this year, net profit margins are almost three times industry average, market share is a world-leading 14 per cent, BYDs are on the up and Eagers’ shares have gained 49 per cent in six months.
Shareholders should be happy; Eagers management should be selling new cars and counting the cash.
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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
