Summerset pulls director pay rise proposal

30th March 2026 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

Summerset Group Holdings Limited has withdrawn a move to increase to its directors’ remuneration pool.

The retirement village operator’s board was to have made the proposal at its upcoming annual shareholders’ meeting on 21 April 2026.

“Since we completed our benchmarking work and put forward our resolutions, world events have changed the landscape we’re working in,” Summerset chair Mark Verbiest said today.

“With fuel and other goods seeing marked price increases we don’t feel it’s appropriate for the board to seek an increased remuneration pool while Summerset’s people, residents and shareholders are managing very challenging issues.

“We look forward to addressing other important matters on the agenda at the upcoming annual shareholders’ meeting.”

Summerset had 7,198 retirement units and 1,475 care units in its portfolio.