ANN CROTTY: Mr Price’s cynical virtue-signalling
The retailer is the latest firm to push the boundaries of belief with its insistence that Nigel Payne — already 16 years on the board — be re-elected as an independent asset to the group
31 August 2023 - 05:00
What were the directors of Mr Price thinking? In the retail group’s recent AGM notice, it implores shareholders to re-elect Nigel Payne to the board. Payne, something of a high-flyer in corporate governance circles, is up for re-election and the board is desperate for him to hold on to his long-standing role as chair.
Shareholders should be concerned by just how keen the directors are that Payne be re-elected. “His continued tenure on the board is crucial to the group achieving its strategy to be the most valuable retailer in Africa,” say the directors. ..
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