Pubs billionaire demands delay in Endeavour AGM
Pubs billionaire Bruce Mathieson wants a delay in Endeavour Group’s annual meeting and fresh information to be sent to the hotels and liquor retailing group’s 422,000 shareholders, as hostilities between the two groups worsened.
Law firm Arnold Bloch Leibler, on behalf of Mr Mathieson, sent a letter to Endeavour chairman Peter Hearl on Wednesday criticising the “chaotic and misleading way” Endeavour had been communicating with shareholders. It said many of them may not know about a reversal of Endeavour’s position on former Woolworths executive Bill Wavish.
Bruce Mathieson says the performance of Dan Murphy’s needs to improve. Louie Douvis
Shareholders can now vote on a resolution for Mr Wavish to go on the board, after Endeavour relented on Tuesday – reversing its previous stance, which had been communicated in information sent to shareholders last week about the annual meeting to be held on October 31.
The law firm claimed the process had been “tainted”, was unfair to Mr Wavish and needed a substantial “reset” so all shareholders were clear about what had happened.
The legal letter was separate to another letter from Mr Mathieson saying the rival Coles liquor business has been outperforming Endeavour’s liquor retailing chains Dan Murphy’s and BWS and a shake-up was needed.
Mr Mathieson owns a 15 per cent stake in Endeavour, which runs 354 hotels, 266 Dan Murphy’s liquor stores and 1435 BWS liquor stores.
Bruce Mathieson says the performance of Dan Murphy’s needs to improve. Louie Douvis
Mr Mathieson is backing a push by Mr Wavish to gain a seat on the Endeavour board and help arrest a declining share price at the company, which split off from Woolworths in 2021.
In response, Endeavour has accused Mr Mathieson of
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