The General Meeting will be held at 1:00pm on 9 November 2026 at Whitbread Court, Houghton Hall Business Park, Porz Avenue, Dunstable, LU5 5XE.
The General Meeting has been requisitioned by Corvex Management LP to consider a resolution to appoint a new director, selected by Corvex, to the Whitbread Board.
The Board does not consider the resolution proposed by Corvex to be in the best interests of shareholders.
The Board unanimously recommends that shareholders VOTE AGAINST the resolution.
The Board recommends that shareholders vote AGAINST the Corvex resolution for three principal reasons:
THE RIGHT PLAN
ALREADY IN FLIGHT
A STRONG BOARD
THE RIGHT PLAN: Having already proactively undertaken and completed a rigorous and comprehensive business and strategic review, advised by Goldman Sachs, J.P. Morgan Cazenove, and Morgan Stanley, the Board has set out a detailed Five-Year Plan to drive margins, cash flow and returns for the benefit of shareholders over the medium and longer-term.
ALREADY IN FLIGHT: Whitbread’s Five-Year Plan is already showing early results, with H1 FY27 performance providing clear evidence of progress. The actions being executed today are de-risking delivery of the Five-Year Plan – it is crucial that execution is not compromised.
A STRONG BOARD: Whitbread has a highly experienced Board with all of the requisite skills to oversee delivery of the Five-Year Plan and increased returns for shareholders. Adding an additional director with a very different agenda will compromise the delivery of the plan.
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