NZME faces boardroom challenge from Grenon, Osmium Partners

NZME Limited (NZX:NZM) is set for a potential boardroom shake-up following proposals from substantial shareholders James (Jim) Grenon and Osmium Partners, LLC. Grenon, holding 9.97% of NZME shares, has proposed removing all current directors and appointing four new ones, with the nominees intending to select a fifth director from the existing board. Grenon claims support from shareholders representing approximately 37% of NZME's shares. Separately, Osmium Partners, holding 6.57% of NZME, has nominated two additional directors. NZME has scheduled its Annual Shareholders' Meeting for April 29, 2025, where these proposals will be voted on. Further details will be included in the Notice of Meeting.