Shareholders grill Goodman on poor year

 In Australia, NewZealand

SMALL shareholders harried Goodman Fielder’s board over almost three hours yesterday, after a horror year taking in natural disasters, downgrades, a $300 million write-down in the baking division and a slumping share price.

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At the company’s annual meeting in Sydney, outgoing chairman Max Ould said of 2010-11: "I don’t think you could have scripted how bad it was going to be."

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There were no substantial protest votes lodged as institutional shareholders are backing a turnaround strategy being developed by new chief executive Chris Delaney but Mr Ould, who was re-elected yesterday but will retire before the next meeting, fielded many pointed questions. Sydney Morning Herald – Read more…

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