Episode Details

Shemara Wikramanayake, Macquarie Group’s long-serving CEO, is stepping down in November with a nearly $900 million windfall from company shares—she’s never sold a single share she received. Earning $24–30 million annually for 40 years, her pay package won shareholder approval by a landslide, avoiding a “second strike” that could have forced board reshuffles. Under her leadership, Macquarie weathered global crises, earning praise for her resilience and loyalty. She’ll be succeeded by Greg Ward, a veteran with deep ties to the company. Meanwhile, activist shareholders push Macquarie to cut fossil fuel financing, calling it Australia’s most aggressive in the sector—though the chairman insists the bank can’t dictate global climate policy alone. Oddly, one shareholder even applauded the fossil fuel investments, hoping for future nuclear funding. The company’s stock dipped slightly, closing at over $97 billion.

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