Activist Stephen Mayne eyes board seats

Shareholder activist Stephen Mayne is planning a run for election to the boards of CBA, Fairfax and Ten.

Corporate activist Stephen Mayne

Shareholder activist Stephen Mayne plans to run for election to the boards of CBA, Fairfax and Ten. (AAP)

Investor activist Stephen Mayne is quitting the Australian Shareholders' Association to seek a place in the boardrooms of the some of the country's largest companies, and possibly parliament.

Mr Mayne said his new direction would involve fighting for improved shareholder rights in an individual capacity.

He has several companies in mind, including Commonwealth Bank, broadcaster Ten Network and Fairfax Media.

"I've just lodged last night for CBA, and I've done Ten and Fairfax," Mr Mayne told AAP.

It is time for a new chairman at Fairfax, while Ten board member Gina Rhinehart is unsuitable for the position, he said.

Mr Mayne's interest in the Commonwealth Bank board is related to the financial advice scandal that recently hit Australia's largest lender.

He admits his chances of being elected to these boards is remote, but agitating for change does sometimes result in directors treating shareholders more fairly, Mr Mayne said.

"It's very effective because it causes an event which is a contested election as opposed to just words," he said.

Mr Mayne has already run for election to company boards on 40 occasions, prior to representing the ASA.

He agreed not to nominate for board positions after becoming a director of the ASA in 2011, where he will end two years as policy and engagement coordinator on September 12.

Mr Mayne is also considering running for political office in November's Victorian election.

"This just gives me the option to run in the Victorian state election, but I haven't made a final decision to do so," Mr Mayne said.

Mr Mayne will likely run as an independent if he does contest, but admits getting elected would be a difficult task requiring a lot of resources.

But even if unsuccessful, his preferences could determine the election's outcome, Mr Mayne said.

He has already run in every form of political election: upper house, lower house, state, federal, capital city council, suburban council, and lord mayoral.

Mr Mayne is currently chair of the government and finance committee at the City of Melbourne, and deputy chair of the planning committee.


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