Pubs giant Endeavour folds on Bill Wavish board tilt
Endeavour Group has reversed its previous stance on a damaging boardroom battle, and will now allow former Woolworths executive Bill Wavish to stand for election at the group’s annual meeting.
Endeavour announced the about-face on Tuesday and said a resolution for the election of Mr Wavish would now be put to shareholders for a vote at the meeting on October 31. The company, which was spun off from Woolworths in 2021 and runs the Dan Murphy’s and BWS liquor chains along with 350 hotels, said it had reversed its decision after having talks with the ASX.
Endeavour Group CEO Steve Donohue.
It had also been concerned by the fallout of the boardroom stoush on its business. “Endeavour is concerned by the ongoing and significant disruption associated with this matter,” the company told investors.
Bruce Mathieson, the billionaire publican who controls 15 per cent of Endeavour, outlined his concerns last week after the battle became public.
His son, Bruce Mathieson jnr, sits on the board. Mr Wavish, a former Woolworths executive, is also being supported by Roger Corbett, the long-time chief executive of the supermarket giant which once owned Endeavour.
More to come
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