Will ANZ’s Governance Amendment Shift the Balance Between Board Authority and Shareholder Voice? (ASX:ANZ)

• ANZ Group Holdings Limited recently announced that it will propose an amendment to its constitution at the upcoming AGM on 18 December 2025, specifying that shareholder resolutions on director powers must be advisory, relevant to material company business, and compliant with legal requirements.
• This planned change highlights a focus on reinforcing the advisory nature of shareholder input while clearly defining boundaries for board and shareholder roles in corporate governance.
• We'll examine how this proposed governance amendment may influence ANZ's alignment of board authority and shareholder engagement within the investment narrative.

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ANZ Group Holdings Investment Narrative Recap

To be a shareholder in ANZ Group Holdings, you need to believe in the long-term benefits of scale and technology upgrades driving efficiency, even as competitive and regulatory headwinds persist. The proposed constitutional amendment affecting shareholder resolution powers is unlikely to materially influence short-term catalysts such as the integration of Suncorp Bank or digital transformation, nor does it directly address the most pressing risks like regulatory scrutiny or cost management at this time.

Among recent developments, the workplace restructuring announced in September 2025, aimed at reducing complexity and costs by cutting approximately 3,500 roles, directly impacts the catalyst of improving operational efficiency through transformation. While not linked to the constitutional change, this move is central to ANZ’s ongoing efforts to boost productivity and maintain earnings in a highly competitive market.

However, contrasting with the push for streamlined governance, regulatory scrutiny remains a risk investors should be aware of, especially considering recent ASIC settlements and…

Read the full narrative on ANZ Group Holdings (it's free!)

ANZ Group Holdings' outlook forecasts A$24.2 billion in revenue and A$7.0 billion in earnings by 2028. This is based on a 4.7% annual revenue growth rate and a value increase of A$0.2 billion in earnings, rising from A$6.8 billion currently.

Uncover how ANZ Group Holdings' forecasts yield a A$33.91 fair value, a 9% downside to its current price.

Exploring Other Perspectives

Seven private investor fair value estimates from the Simply Wall St Community range from A$25.40 to A$37.80 per share, illustrating sharply different outlooks for ANZ’s potential. Against this, rising compliance costs from regulatory issues may influence company outcomes, so explore these differing investor views for a fuller picture.

Explore 7 other fair value estimates on ANZ Group Holdings - why the stock might be worth as much as A$37.80!

Build Your Own ANZ Group Holdings Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your ANZ Group Holdings research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free ANZ Group Holdings research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ANZ Group Holdings' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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