Woolworths - the second biggest shareholder in Endeavour Group - will vote against the election of nominee Bill Wavish.
Woolworths posted a 5.3 per cent gain in first quarter sales to $17.2 billion, driven mainly by deflation in fruit & vegetables and meat.
Big W sales fell 5.5 per cent in the first quarter. Profits are being dented by lower sales and higher wages.
Woolworths chief executive Brad Banducci says the grocery retailer will oppose a push to install former supermarkets executive Bill Wavish on the board of Endeavour Group, the pubs and liquor retailer it has a 9.1 per cent stake in.
Woolworths is the second-biggest shareholder in Endeavour behind billionaire Bruce Mathieson who is waging a proxy war against the owner of Dan Murphy’s. This week Mr Mathieson racheted up the pressure, calling for Endeavour chairman Peter Hearl to step down at the annual meeting set for Tuesday.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
