Nextdc CEO agrees to forgo incentives after earnings guidance cut

CEO: The CEO referenced in the news is Craig Scroggie, NEXTDC’s chief executive officer and managing director. He agreed to forgo his FY27 short-term and long-term incentive opportunities after the M3 Melbourne power delay and related guidance downgrade. Nextdc: NEXTDC is an Australian data-center operator listed on the Australian Securities Exchange and led by CEO and Managing Director Craig Scroggie. The company is responding to a delay in electricity-network works affecting its M3 Melbourne project, which led it to lower FY27 guidance and withdraw the CEO’s incentive opportunities. Power supply: Jemena’s delayed electricity-network works postponed the next increase in grid supply to NEXTDC’s M3 Melbourne facility, deferring the delivery and billing of contracted capacity. Investor response: NEXTDC withdrew the proposed FY27 long-term incentive award for Scroggie, and he will not receive cash or another award in its place. Expansion strategy: Following the delay, NEXTDC paused projects without customer contracts and redirected capital toward capacity already backed by contracted demand.