Fairfax Media shareholders on Monday were sent a notice of their upcoming Annual General Meeting to be held at Crown Casino on 13 November at 10.30am. The Chairman’s letter to shareholders reads:
The business on the Agenda for this year’s meeting is straightforward. The resolutions we are recommending for approval by shareholders include the reelection of Mr Peter Young AM as a director and approval of the Company’s remuneration report.
“Straightforward”? Gotta be joking:
- Millions of dollars and share schemes dished out to senior executives and the Board on the eve of hundreds of journalists losing their jobs
- Advertising performance on the skids
- Non disclosure of the SMH and Age CEO remuneration and massive cash bonuses
- Long serving Fairfax employees frog marched out of the company without explanation
- Contributors sacked for refusing to cross picket lines
- Canteen services cut for employees and abolished for night shift staff at The Age
- Fairfax’s retail arms closed so no papers are available to readers
- SMH and Age online sites trashing quality brands. $20 million classified advertising hole at The Age
- Numerous overseas junkets by Fairfax advertising managers
- SMH and Age losing Australia’s best journalists and writers
- Newspaper programs in schools abolished
- Board with no newspaper experience seeking approval to reelect a favoured financier
- Former Age editor-in-chief calling Fairfax’s slashing and burning “chilling”
- Abolition of foreign bureaux
- Withdrawing financial support from the Walkley Awards…
“Straightforward”? Don’t think so.
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