Cleanaway's leadership is under increased scrutiny to improve safety measures and rebuild shareholder confidence after a string of fatal workplace incidents triggered widespread investor backlash during the company’s annual general meeting. Though executive bonuses were reduced by 30%, shareholders responded forcefully, pushing the company to commit to more rapid fatality disclosures and to bring in external safety reviewers.
Four workers have died at Cleanaway sites in the past 15 months. The most recent fatality involved a contractor who was killed in a machinery-related incident at the Coolaroo facility. Since mid-2022, eight workers have lost their lives across Cleanaway’s waste management operations, raising significant concerns about the company’s safety protocols.
A major investor advisory group encouraged shareholders to reject the executive pay proposal, citing worsening safety outcomes and a lack of leadership accountability. More than 40% of shareholders agreed, triggering a "first strike" which formally signals shareholder discontent. If a second strike occurs next year, a vote to remove the board may be required.
An independent safety review is now underway, but Cleanaway has not revealed which organisation is conducting it. The findings are expected to be released before the end of the year. The company has announced plans to install monitoring equipment across its entire vehicle fleet by mid-2026 and will link 20% of future short-term executive bonuses to safety outcomes.
Despite these challenges, Cleanaway is still forecasting underlying FY25 earnings of between $470 million and $500 million. However, performance has been below expectations in areas such as industrial services and landfill operations. The current chair of the board will step down next year and the company is seeking new directors to help strengthen leadership and rebuild investor trust.
Cleanaway’s share price fell more than 3% after the AGM and is down 6% over the past year, as investors continue to assess the balance between financial results and operational risks.
