Meridian Energy Management

Management criteria checks 4/4

Meridian Energy's CEO is Neal Barclay, appointed in Jan 2018, has a tenure of 6.33 years. total yearly compensation is NZ$1.87M, comprised of 60.6% salary and 39.4% bonuses, including company stock and options. directly owns 0.021% of the company’s shares, worth A$2.90M. The average tenure of the management team and the board of directors is 4.5 years and 3.5 years respectively.

Key information

Neal Barclay

Chief executive officer

NZ$1.9m

Total compensation

CEO salary percentage	60.6%
CEO tenure	6.3yrs
CEO ownership	0.02%
Management average tenure	4.5yrs
Board average tenure	3.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Neal Barclay's remuneration changed compared to Meridian Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	NZ$85m
Sep 30 2023	n/a	n/a	NZ$90m
Jun 30 2023	NZ$2m	NZ$1m	NZ$95m
Mar 31 2023	n/a	n/a	NZ$301m
Dec 31 2022	n/a	n/a	NZ$507m
Sep 30 2022	n/a	n/a	NZ$479m
Jun 30 2022	NZ$2m	NZ$1m	NZ$451m
Dec 31 2021	n/a	n/a	NZ$333m
Sep 30 2021	n/a	n/a	NZ$374m
Jun 30 2021	NZ$2m	NZ$1m	NZ$415m
Mar 31 2021	n/a	n/a	NZ$320m
Dec 31 2020	n/a	n/a	NZ$211m
Sep 30 2020	n/a	n/a	NZ$193m
Jun 30 2020	NZ$2m	NZ$1m	NZ$175m
Mar 31 2020	n/a	n/a	NZ$277m
Dec 31 2019	n/a	n/a	NZ$378m
Sep 30 2019	n/a	n/a	NZ$359m
Jun 30 2019	NZ$2m	NZ$974k	NZ$339m
Mar 31 2019	n/a	n/a	NZ$292m
Dec 31 2018	n/a	n/a	NZ$244m
Sep 30 2018	n/a	n/a	NZ$223m
Jun 30 2018	NZ$1m	NZ$475k	NZ$201m

Compensation vs Market: Neal's total compensation ($USD1.13M) is below average for companies of similar size in the Australian market ($USD2.66M).

Compensation vs Earnings: Neal's compensation has been consistent with company performance over the past year.

CEO

Neal Barclay

6.3yrs

Tenure

NZ$1,874,667

Compensation

Mr. Neal Barclay has been Chief Executive Officer of Meridian Energy Limited since January 1, 2018. Mr. Barclay served as General Manager of Retail at Meridian Energy Limited since April 5, 2016 until July...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Neal Barclay	Chief Executive Officer	6.3yrs	NZ$1.87m	0.021% NZ$ 2.9m
Mike Roan	CFO and GM of Finance & Strategy	5.1yrs	no data	0.0098% NZ$ 1.4m
Bharat Ratanpal	Chief Information Officer	2.2yrs	no data	0.00073% NZ$ 103.4k
Owen Hackston	Investor Relations Manager	no data	no data	no data
Jason Woolley	General Counsel & Company Secretary	4.4yrs	no data	no data
Philip Clark	Head of Communications	no data	no data	no data
Jason Stein	Chief People Officer	13.3yrs	no data	0.0031% NZ$ 444.7k
Claire Shaw	General Manager of Corporate Affairs & Sustainability	4.1yrs	no data	0.00051% NZ$ 72.2k
Lisa Hannifin	Chief Customer Officer	4.5yrs	no data	0.00078% NZ$ 110.5k
Rory Blundell	Group Strategy Manager	no data	no data	no data
Grant Telfar	Portfolio Manager	no data	no data	no data

4.5yrs

Average Tenure

Experienced Management: MEZ's management team is considered experienced (4.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Graham John Cockroft	Independent Non-Executive Director	1.8yrs	NZ$127.36k	0.0015% NZ$ 219.5k
Mark Verbiest	Independent Chairman of the Board	7.2yrs	NZ$212.00k	0.0019% NZ$ 271.9k
Tania Joy Te Simpson	Independent Director	2.8yrs	NZ$144.38k	0.00020% NZ$ 28.3k
David Carter	Independent Non-Executive Director	less than a year	no data	0.00070% NZ$ 99.1k
Julia Hoare	Independent Director	4.7yrs	NZ$146.75k	0.00032% NZ$ 45.3k
Michelle Henderson	Independent Director	4.6yrs	NZ$136.75k	0.00028% NZ$ 39.7k
Nagaja Sanatkumar	Independent Director	4.3yrs	NZ$135.75k	0.00034% NZ$ 48.1k
Benjamin Bateman	Director	1.3yrs	no data	no data

3.5yrs

Average Tenure

Experienced Board: MEZ's board of directors are considered experienced (3.5 years average tenure).

Meridian Energy Management

Management criteria checks 4/4

Key information

Recent management updates

Meridian Energy Limited, Annual General Meeting, Oct 12, 2023

Meridian Energy Limited Appoints David Carter as A Non-Executive Director with Effect from 25 July 2023

Chief People Officer recently sold AU$494k worth of stock

Meridian Energy Limited Announces the Appointment of Benjamin Bateman as Director , Effective 28 February 2023

High number of new directors

Independent Non-Executive Director recently bought AU$91k worth of stock

Recent updates

First half dividend of NZ$0.07 announced

Meridian Energy Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 26, 2024

Meridian Energy Limited to Report First Half, 2024 Results on Feb 28, 2024

Meridian Energy Limited Announces Final Ordinary Dividend for the Six Months Ended June 30, 2023, Payable on September 22, 2023

New minor risk - Profit margin trend

Full year 2023 earnings released: EPS: NZ$0.037 (vs NZ$0.17 in FY 2022)

Meridian Energy Limited, Annual General Meeting, Oct 12, 2023

Meridian Energy Limited Appoints David Carter as A Non-Executive Director with Effect from 25 July 2023

Meridian Energy Limited to Report Fiscal Year 2023 Results on Aug 29, 2023

Chief People Officer recently sold AU$494k worth of stock

First half 2023 earnings released: EPS: NZ$0.078 (vs NZ$0.056 in 1H 2022)

Meridian Energy Limited Announces the Appointment of Benjamin Bateman as Director , Effective 28 February 2023

Meridian Energy Limited to Report First Half, 2023 Results on Mar 01, 2023

High number of new directors

Independent Non-Executive Director recently bought AU$91k worth of stock

Upcoming dividend of NZ$0.13 per share

Full year 2022 earnings released: EPS: NZ$0.17 (vs NZ$0.16 in FY 2021)

Meridian Energy Limited Announces Ordinary Fully Paid Foreign Exempt NZX Dividend for the Six Months Ended June 30, 2022, Payable on September 23, 2022

Meridian Energy Limited, Annual General Meeting, Oct 18, 2022

High number of new directors

Meridian Energy Limited Appoints Graham Cockroft as A Non-Executive Director with Effect from 26 July 2022

Meridian Energy Limited to Report Fiscal Year 2022 Results on Aug 24, 2022

Meridian Makes Two Appointments to Executive Team

Upcoming dividend of NZ$0.067 per share

First half 2022 earnings: EPS in line with expectations, revenues disappoint

Meridian Energy Limited Announces Dividend on MEZ - Ordinary Fully Paid Foreign Exempt NZX for the Six Months Ended December 31, 2021, Payable on April 8, 2022

Shell Energy Operations Pty Ltd and Infrastructure Capital Group Ltd completed the acquisition of Meridian Energy Australia Pty. Ltd. from Meridian Energy Limited (NZSE:MEL) for AUD 740 million.

Chief People Officer Tania Palmer has left the company

Insider recently sold AU$225k worth of stock

Shell Energy Operations Pty Ltd and Infrastructure Capital Group Ltd agreed to acquire Australian Business Of Meridian Energy Limited from Meridian Energy Limited (NZSE:MEL) for approximately AUD 730 million.

Upcoming dividend of NZ$0.13 per share

High number of new directors

High number of new directors

Full year 2021 earnings released: EPS NZ$0.17 (vs NZ$0.069 in FY 2020)

Upcoming dividend of NZ$0.066 per share

Insider recently sold AU$53k worth of stock

Insider recently sold AU$75k worth of stock

First half 2021 earnings released: EPS NZ$0.089 (vs NZ$0.075 in 1H 2020)

Revenue misses expectations

New 90-day low: AU$5.27

Jason Stein to Step Down as CEO of Meridian Energy Australia and Powershop Australia of Meridian Energy Limited

Rio Tinto Reaches Deal with Meridian Energy to Extend Operations to 2024

New 90-day high: AU$6.74

Meridian Energy Limited to Report Q2, 2021 Results on Feb 24, 2021

New 90-day high: AU$6.35

New 90-day high: AU$5.67

New 90-day high: AU$4.90

Full year earnings released - EPS AU$0.069

Meridian Energy Limited to Report Fiscal Year 2020 Results on Aug 26, 2020

New 90-day low - AU$4.21

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure