NEXTDC CEO to forgo 2027 bonus opportunities after forecast cut and project delay

NEXTDC said CEO Craig Scroggie will give up fiscal 2027 bonus opportunities after the Australian data-centre operator cut its revenue outlook and deferred contracted revenue because of delays to electricity upgrades at a Melbourne project.

jajoy39

Oct 27, 2026 - 06:35

0 5

NEXTDC chief executive Craig Scroggie at an AI summit in Melbourne (file photo). Source: AAP / James Ross, via ABC News.

NEXTDC CEO to forgo 2027 bonus opportunities after forecast cut and project delay

Australian data-centre operator NEXTDC said Chief Executive Craig Scroggie will forgo his fiscal 2027 bonus opportunities after the company cut its revenue forecast and paused future developments, Reuters reported. The announcement follows a warning that an electricity-network upgrade delay at a major Melbourne project would defer about A$140 million of contracted customer revenue from the current financial year.

Remuneration changes

NEXTDC said its board had withdrawn a resolution seeking shareholder approval for performance rights and restricted rights for Scroggie under the fiscal 2027 long-term incentive plan. That means the proposed grant will not proceed on the terms described in the report; it is not evidence that the company has cancelled the chief executive's existing compensation arrangements.

The board also withdrew a proposal to increase the maximum aggregate annual remuneration for non-executive directors by A$300,000. Existing non-executive directors agreed to an immediate voluntary 10% reduction in their current fees, according to the company details reported by Reuters.

Board transition

Current Chairman Douglas Flynn reaffirmed his intention to retire after a successor is appointed and a short handover is completed. NEXTDC expects to appoint two new non-executive directors in the first calendar quarter of 2027. The company is scheduled to hold its annual general meeting on November 20.

Infrastructure constraint hits timing

The Melbourne network-upgrade delay affects timing rather than the existence of the contracted customer revenue identified in the report: NEXTDC said about A$140 million would be deferred from this financial year. Reuters linked the delay to the company's decision to cut its revenue forecast and pause future development work.

The opened sources do not establish the revised full-year revenue figure, the new delivery timetable or whether the electricity upgrade has received a firm completion date. They also do not provide a separate company filing that can be checked against every remuneration detail. Accordingly, this article treats the operational and governance changes as company details reported by Reuters, while avoiding a claim that a final financial outcome has already been recorded.