The problem with online-only AGMs

As the National Trust prepares to take its AGM fully online in 2026, online-only AGMs are also becoming a feature of the corporate world. Paul Jackson argues in Investors’ Chronicle that virtual meetings may be cheaper and easier for the management, but can ultimately lead to worse outcomes for the business.

Virtual-only AGMs are certainly easier to manage, especially if questions have to be submitted in advance. But would awkward questions then be avoided? There is, though, another reason why company directors need to be brought face to face with individual shareholders. It can break them out of their silos.

If they give waffling responses to apparently off-the-wall questions, maybe they should question their assumptions. They might hear personal stories about the impact their businesses are having on everyday lives. Or be asked probing questions that make them stop and think.

Virtual-only AGMs are an easy solution, but they’re not the right answer. Company managements need to hear what shareholders have to say. Their businesses will be the stronger for it.