NEXTDC CEO relinquishes FY2027 bonus as revenue outlook and projects are cut
NEXTDC chief executive Craig Scroggie will forgo his fiscal 2027 bonus after the company cut its revenue forecast and delayed a major Melbourne data-centre project.
NEXTDC disclosed that CEO Craig Scroggie will not receive any bonus opportunities for fiscal 2027 after the firm reduced its revenue guidance and paused a key development in Melbourne. The board removed the resolution that would have approved performance and restricted rights for the CEO under the long-term incentive plan. Chairman Douglas Flynn reaffirmed his plan to retire once a successor is in place, with a brief handover, and the board aims to add two new non-executive directors in the first quarter of 2027.
Additionally, the board withdrew a shareholder proposal to increase the maximum annual pay for non-executive directors by A$300,000, and one outlet directors voluntarily cut their fees by 10%. The revenue impact, roughly A$140 million, is linked to delays in electricity network upgrades at the Melbourne project. NEXTDC’s annual general meeting is scheduled for November 20.
Why it matters
The move signals governance and financial pressure on a major Australian data-centre provider amid project delays.
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