Macquarie Bank CEO Shemara Wikramanayake announces retirement
- 19 minutes ago
- 1 min read
Macquarie Group chief executive Shemara Wikramanayake will retire in November after almost 40 years with the company, leaving with a personal shareholding worth more than $375 million.
Ms Wikramanayake, who has led the banking and investment giant for eight years, owns 1.47 million Macquarie shares, recently valued at about $254.93 each. She also holds additional restricted and performance-based shares worth tens of millions of dollars.
Her retirement was announced ahead of Macquarie’s annual general meeting, where shareholders approved key resolutions including executive remuneration and director appointments.
Macquarie chairman Glenn Stevens praised Ms Wikramanayake’s leadership, saying she had guided the company through global expansion, the COVID-19 disruption and major business growth.
She will be replaced by Greg Ward, Macquarie’s head of Banking and Financial Services, who has been with the organisation since 1996.
The AGM also saw shareholders raise concerns about executive pay and the company’s involvement in fossil fuel projects, including investment linked to the Beetaloo Basin gas development.
Climate-focused investors questioned Macquarie’s approach to energy investment, arguing it conflicted with global climate goals. However, the company avoided a second strike on its remuneration report, meaning no board spill was triggered.
Macquarie reported strong quarterly results, with deposits in its banking division rising to $223.3 billion. The company previously recorded a $4.85 billion full-year profit, up 30 per cent from the previous year.
Ms Wikramanayake said she was confident in Macquarie’s future under Mr Ward’s leadership and highlighted the strength of the company’s global team.
More updates to come on AusNewsLanka.
Source : News.com
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