Meridian Energy (MEL) presentation summary

Board composition and governance

• Board comprises seven directors with diverse tenures and committee leadership roles, including chairs for People, Remuneration and Culture; Audit and Risk; Safety and Sustainability; and Cyber Security Committees.

• Gender diversity target set at minimum 30% male and 30% female directors, currently at 57% male and 43% female.

• Board aims for at least one director with deep understanding of tikanga Māori and iwi relationships, reflecting the importance of Ngāi Tahu partnership.

• Director tenure ranges from 0–10 years, with no directors exceeding 10 years.

Director skills and executive team

• Skills matrix covers strategic focus, capital markets, engineering, executive leadership, financial acumen, governance, risk management, sustainability, and technology.

• Executive team includes new Chief Executive and Chief Financial Officer appointments in 2025, with roles spanning generation, development, customer, people, and sustainability.

Remuneration and incentives

• Director fee pool for FY25 is $1,199,000, unchanged from FY24, with detailed breakdown for board and committee roles.

• Chief Executive total remuneration for FY25 was $2,473,105, with no short-term incentive paid due to financial performance below threshold.

• New deferred equity short-term incentive introduced for FY26, with payment deferred for two years.