Portfolio Services and BGH Capital Seek Board Changes at Webjet with 17% Stake
Webjet Group Limited has received a shareholder requisition backed by significant investors seeking to appoint new directors and remove recent board appointees, signaling potential shifts in company governance.
- Shareholder Portfolio Services requests general meeting to appoint two new directors
- Proposal includes removing any directors appointed after 22 September 2025
- Portfolio Services holds approximately 5% of shares; BGH Capital supports with 12.1% stake
- Webjet plans to call meeting by 13 October and hold it by 24 November 2025
- Potential boardroom changes could influence strategic direction and investor confidence
Shareholder Requisition Sparks Boardroom Contest
Webjet Group Limited (ASX, WJL), a prominent player in the travel services sector, has been thrust into a potential governance shake-up following a formal requisition from a notable shareholder. On 22 September 2025, Portfolio Services Pty Ltd, holding just under 5% of Webjet’s shares, submitted a request under the Corporations Act for a general meeting. The agenda, to consider appointing Daniel Asher Weiss and Andrew Taylor as new directors and to remove any directors appointed after the requisition date.
Backing from Major Investor BGH Capital
The move gains further weight with the backing of BGH Capital, a significant investor holding over 12% of Webjet’s shares through related entities. This alliance suggests a coordinated effort by influential shareholders to influence the company’s board composition and, potentially, its strategic trajectory. While the precise motivations behind these proposed changes remain undisclosed, such shareholder activism often reflects dissatisfaction with current governance or strategic decisions.
Implications for Webjet’s Governance and Strategy
The requisition signals a critical juncture for Webjet’s leadership. The proposed removal of any directors appointed after 22 September 2025 indicates a desire to reverse recent board changes, possibly reflecting concerns about the direction or performance under the current regime. The appointment of Mr Weiss and Mr Taylor could bring new perspectives or strategic priorities, though their backgrounds and potential impact remain to be seen.
Next Steps and Market Watch
Webjet has indicated plans to call the general meeting by 13 October 2025, with the meeting to be held by 24 November 2025. Investors and market watchers will be closely monitoring developments, as the outcome could reshape the company’s governance landscape and influence investor sentiment. The company’s response and the broader shareholder reaction will be critical in determining the future board composition.
As the travel sector continues to navigate post-pandemic recovery and evolving market dynamics, leadership stability and strategic clarity remain paramount. This shareholder-driven challenge underscores the ongoing scrutiny and high stakes involved in steering Webjet’s future.
Bottom Line?
Webjet’s upcoming general meeting could redefine its boardroom and strategic outlook amid growing shareholder activism.
Questions in the middle?
- What are the strategic visions and backgrounds of Daniel Asher Weiss and Andrew Taylor?
- How will current directors respond to the proposed removals and new appointments?
- Could this shareholder action signal broader unrest or shifts within Webjet’s investor base?
