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Cape Town - The annual general meeting of Woolworths [JSE:WHL] was disrupted by shareholders demonstrating against the South African retailer’s purchase of pretzels, figs and pomegranates from Israel.
Follow Fin24's live updates of the AGM.
Campaigners against trade with the Middle Eastern country continually interrupted the meeting in Cape Town, questioning how Woolworths would respond to the risk of a widespread boycott and seeking the opinion of directors up for re-election. About 40 people protested outside.
“We have repeatedly stated we do not source from the occupied territories,” chairperson Simon Susman told shareholders at the meeting. “I can assure you we are not breaching international law.”
Demonstrators bought Woolworths shares ahead of the meeting to put pressure on management, Boycott Divestment Sanctions South Africa said last week. The protesters have the backing of the Congress of South African Trade Unions, the country’s biggest labour group that’s affiliated with the ruling African National Congress.
Woolworths management plans to meet with BDS, which has lead calls for a boycott since August, Susman said. The company’s shares fell 1.3% to R78.94 as of 11:08 in Johannesburg.
Chief executive officer Ian Moir didn’t attend the annual meeting after injuring both legs in a fall in Sydney. The clothes and food retailer bought David Jones of Australia for $2bn in August.
- Bloomberg
