* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Harvey Norman executive pay strike not our fault, says Gerry Harvey

November 29, 2023
in News
Harvey Norman executive pay strike not our fault, says Gerry Harvey
Share on FacebookShare on Twitter

Harvey Norman has copped a staggering vote against executive pay as the white goods retailer posted a 7.8 per cent decline in sales over the last five months, during which consumers became more conscientious about their shopping decisions.

The overwhelming majority, some 81.8 per cent of the retailer’s shareholders, voted against the company’s remuneration report at its annual general meeting on Wednesday, where executive chairman and co-founder Gerry Harvey launched a blistering attack on a representative from a retail shareholder association.

Harvey Norman chairman Gerry Harvey launched an attack on the Australian Shareholders Association and copped a strike against its remuneration report.

Harvey Norman chairman Gerry Harvey launched an attack on the Australian Shareholders Association and copped a strike against its remuneration report.Credit: Dean Sewell

“How did you get this job?” Harvey said to former Australian Shareholders Association (ASA) chair Allan Goldin in response to questions about the remuneration report. “Can you ever be positive about anything? You’re a negative bastard,” he said to other questions about franchise operations and revenue.

ASA, a non-profit association representing retail shareholders, expressed concerns about the board’s independence and pay transparency. It did not support the remuneration report, the re-election of chief financial officer Chris Mentis, the performance rights (bonuses) of Harvey, his wife and chief executive Katie Page, executive director David Matthew Ackery, chief operating officer John Evyn Slack-Smith, and company secretary Chris Mentis.

“ASA’s major problem … is that the Remuneration Committee who created it cannot in all fairness be considered independent,” ASA said in its voting intentions report. “It was thought before the commencement of the 2023 year that there was going to be underperformance on the prior year, but to make sure that the executive directors still got a bonus in a poor year they just lowered the entry target.”

Loading

Harvey told this masthead that the company’s management should “absolutely not” bear any responsibility for the overwhelming strike against the remuneration report, arguing that its remuneration was comparatively low compared to other ASX companies. The executive pay strike is not the first for Harvey Norman: in 2019, the company suffered a second strike, but avoided a board spill.

“It’s just ridiculous,” Harvey said. “The proxy adviser should take full blame.”

Harvey Norman’s share price has not suffered from the strike or the declining sales numbers, with investors sending the share price up 3.6 per cent in afternoon trading.

The $4.6 billion white goods retailer also operates in New Zealand, Slovenia, Croatia, Ireland, Northern Ireland, Singapore and Malaysia. Australia was Harvey Norman’s worst-performing market between July 1 and November 25, with sales down 11.6 per cent along with a 2.6 per cent drop in New Zealand.

Harvey Norman opened one new store in the ACT and four new stores in Malaysia, with Harvey defending the company’s strategy to double down on investing in physical showrooms.

Harvey said the retailer’s Black Friday sales had been “very strong”, but conceded it was impacted by high traffic volumes that saw its website slow to a “snail’s pace” between 8am to 8pm on Friday.

“We lost quite a lot of online business,” he said, adding that many people who couldn’t make purchases online came into a store or phoned the customer line.

Harvey said he would be asking the IT department why the website lagged given it had received similar traffic levels in previous Black Friday and Boxing Day sales. “I don’t think it’ll happen to us again, I’ll bet anything.”

Loading

Harvey Norman tends to target the middle higher-income consumers, who tend to be older with more money to spend. Over recent months, Harvey said the average transaction price had diminished, with Australians who might normally spend $3000 on a fridge, washing machine or TV opting to spend $2000 instead.

“They are a little more careful with their dollars,” he said. “We obviously try to attack the middle-to-upper more because your average selling price is higher and your margin’s better, and you’re selling a better product … We’re spending a lot more money on our stores with presentation, so we’re concentrating strongly in that area.”

Meanwhile, online-only furniture and homewares retailer Temple & Webster released a trading update on Wednesday which showed their sales jumped 23 per cent over a similar period, with customers spending $17.4 million across the four-day period of Black Friday and Cyber Monday, representing double what they spent last year.

The digital retailer, which is popular with millennials and has become a major alternative to flat-pack giant IKEA, enjoyed a 500 per cent profit jump during the COVID pandemic-induced online shopping boom, but lost the wind in its sails when lockdowns unwound and people started spending more time outdoors.

Temple & Webster chief executive Mark Coutler argued that the online-only business would be more attractive to customers in a tougher economic environment.

“As customers feel poorer, they’re seeking more value. Online is a better value channel,” he said.

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

Most Viewed in Business

Loading

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Brisbane Times – https://www.brisbanetimes.com.au/business/companies/harvey-norman-executive-pay-strike-not-our-fault-says-gerry-harvey-20231129-p5enqo.html?ref=rss&utm_medium=rss&utm_source=rss_feed

Tags: HarveynewsNorman
Previous Post

Perth tradie stood guard over victim of alleged machete attack

Next Post

Dodson mourns ‘divided nation’ after Voice defeat in farewell speech

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 2025
International call for freedom for environmentalist Onur Yılmaz – ANF English

International call for freedom for environmentalist Onur Yılmaz – ANF English

July 11, 2025
This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

July 11, 2025
Science Museum of Minnesota cutting more than 40 full-time employees – CBS News

Science Museum of Minnesota to Cut More Than 40 Full-Time Jobs

July 11, 2025
Doctors say we’ve been misled about weight and health – ScienceDaily

Doctors Reveal the Truth About Weight and Health That You’ve Been Misled About

July 11, 2025
Sierra Club breaks record for world’s largest display of origami fish to protest Line 5 – News From The States

Sierra Club Creates Giant Origami Fish to Break World Record and Protest Line 5

July 11, 2025
Senate Democrat: Trump economy full of ‘uncertainty,’ ‘chaos’ – The Hill

Senate Democrat Warns of ‘Uncertainty’ and ‘Chaos’ in Trump Economy

July 11, 2025
Arts and entertainment events happening July 10th-13th across the Mid-Ohio Valley – WTAP

Unmissable Arts and Entertainment Events Happening July 10th-13th in the Mid-Ohio Valley

July 11, 2025
World’s Premier Cancer Institute Faces Crippling Cuts and Chaos – KFF Health News

World’s Leading Cancer Institute Grapples with Devastating Cuts and Turmoil

July 11, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (715)
  • Economy (738)
  • Entertainment (21,626)
  • General (15,827)
  • Health (9,775)
  • Lifestyle (745)
  • News (22,149)
  • People (740)
  • Politics (748)
  • Science (15,956)
  • Sports (21,237)
  • Technology (15,724)
  • World (721)

Recent News

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version