Canadian Investor Pushes for Board Overhaul at NZME

New Zealand Media and Entertainment (NZX: NZM) is facing a potential boardroom shake-up as Canadian billionaire Jim Grenon seeks to replace most of its directors. Grenon, who recently acquired a 9.97% stake in the company, claims to have support nearing 50% of the shareholder base for his proposal.

His plan includes nominating four new directors, with only one existing board member expected to retain their position. Some institutional investors have reportedly shown tentative support for the move.

Grenon’s push for change follows concerns over NZME’s strategic direction, with shareholders debating the company’s future leadership.

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