Shareholders will get the chance to hold Arsenal’s board to account this morning as the club hold their annual Arsenal shareholders used the club's Annual General Meeting to voice their displeasure at the current board.

In a rare move to show their unhappiness with the set-up, shareholders voted down two resolutions to re-elect chairman Sir Chips Keswick and director Josh Kroenke.

This was despite the fact they were told majority shareholder Stan Kroenke had already voted by proxy in favour of retaining the pair - with his 67 per cent holding swaying the vote.

At least 200 shareholders, many of which were left standing at the start of the AGM as not enough chairs were provided, turned up to the Emirates Stadium to hear from Keswick, chief executive Ivan Gazidis and manager Arsene Wenger.

The majority of those shareholders in attendance voted against the re-election of Keswick as well as the re-election of Kroenke's son to the board.

Poll votes took place in the room but were defeated as both Kroenke and Alisher Usmanov - who owns more than 30 per cent of the club and has made noises about attempting to buy out Kroenke - voted in favour of the pair being re-elected.

Scroll back through our blog to see what Wenger, Keswick and Gazidis had to say...

That's all folks

Sir Chips Keswick now declares the meeting closed.

“Mr Kroenke won’t be speaking as it’s not on agenda.

“Ladies and gentlemen the meeting is closed.”

As a parting shot, he adds: “Please write in if you’ve got a problem.”

The shareholders are fuming, there are repeated calls from the crowd urging Sir Chips Keswick to actually answer a question but reminds the meeting is over.

And with that he and the rest of the board are booed off.

Chips getting booed

This is getting tense and Sir Chips Keswick’s tone is not helping the ill-feeling in the room, claiming he is not understanding questions and talking down to shareholders.

He is now getting booed after declaring there is only time for one more question.

Someone now stands to ask about the make up of the board. She says she has asked the same question for the past five years and got no real response.

Chips responds with “we will look into it” and “thanks for your statement”.

He is jeered.

Open ended Qs now come from the floor

Sir Chips Keswick invites questions from the floor. Given the mood here, he might regret that and wish the poll votes went on a bit longer!
He is asked ‘Is there any reason the meeting next year can’t start earlier allowing shareholders to ask questions that arise during the meeting on the day?”

The response from Sir Chips Keswick: “We will consider it.”

More from Gazidis on Wenger

Six questions coming on Wenger, his future, and what is being done to win the league?
“We do have targets every year but they are not discussed in public. To do so only fuels speculation when we need to focus on critical games for the club.

“He has been given a new two year deal in the belief that he has the experience, quality and values to lead us to success with the right support.

“We want to compete at the top and win more trophies and make more history for our football club.”
But when asked about succession that was considered one of many things Gazidis was not prepared to discuss in public.

On Wenger’s drawn out contract negotiations affecting the team’s performance, Gazidis says: “We are always learning from our experiences.”

He adds: “Arsene has new two-year deal in the belief that he has the experience, values and quality.”

Gazidis on players running down contracts

Says the experience with Robin van Persie led them not to sell Ozil/Sanchez.

“Those on the outside don’t know the dynamics or demands being made,” he adds.

“We’ve taken this approach for the best chance to try and win trophies this season.

“Decisions on Alexis and Ozil do not fit the narrative that we put money first. Taken stance as best chance to compete for trophies.”

Board now being quizzed about wasting money on poor quality players.

Gazidis: “Every club has successes and failures and we want to do better.

“Arsenal, of the big club have been the most over performing club over time.

“On an objective basis we perform very well and have done over time however I agree we have to find ways to perform better.”

Mid answer and talking about his hope of success for Arsenal, Gazidis is heckled again... “Losing to Bayen Munich 10-2 is successful?”

He then denies they tried to sell Mustafi in the summer.

Gazidis leaps to the defence of under-fire chairman Sir Chips

“I think people need to understand we have a long standing passionate Arsenal fan and not just one, the same kind of people sitting in this room who do care about this club.

“Sir Chips Keswick’s experience is extensive. He brings this tremendous wealth of experience and high end knowledge to out club and is a lifelong fan.

“He is beholden to no-one and always speaks his mind.

“The good of the club is his only consideration.He cares about this club in the same way everyone in this room does and we are fortunate to have a long standing fan with these kind of credentials and this kind of experience on our board.”

Now we hear from Sir Chips

Plenty of scoffing and chuckles when Sir Chips Keswick claims the Arsenal board is diverse.

He says: “I can confirm a healthy debate take place around the board room table.”

On Usmanov, he adds: “He has not been offered a place on the board and that remains the position.”

People are now shouting for Stan Kroenke to address the crowd.

Gazidis responds to Q on investment in the club

Another question relating to investment in the club follows.

Gazidis: “All resources are made available for investment. We’ve broken club transfer record multiple times and did it again with Lacazette.

“We’ve made over £200m of transfer investments in the last three years. Approximately £40m in our facilities at London Colney, Hale End and Boreham Wood and further investment in staff.

“Since 2013 number of support staff has more than doubled. Those investments in the best people will continue. We are not where we want to be yet but we are not standing still.”

Questions from the floor

Now some shareholders questions being answered, starting with one about the Cologne Europa League game which was delayed due to crowd trouble and away fans being in the home end.

Gazidis says that around 1,000 Red Members are banned each year for offences relating to ticket touting.

Wenger: I will always love this club

“My hunger, my commitment is bigger than ever. I question myself a lot, don’t worry, I will sit down every year to see where I go.

“No matter what happens one day I will always love this club forever and be an eternal fan.”

There is a long spell of applause for Wenger after his speech. One man stands to applaud him.

More from Wenger

“Arsenal is highly respected. We represent something that is exceptional. It’s a tradition of class.

“The present for me is about style of play, winning trophies, winning every single game. Don’t think I don’t know that.

“As soon as we lose one game there is a preconceived idea that we are not good enough.

“ll I ask you to do is be behind the team, we know we lost three games we should not have lost.”

More from Wenger

“I feel that a football club is about the past, the present and the future. what we see now, the evolution of the game, football is always ahed of society and that follows the way of the game.

“And what is for sure is in our game the weight of the past and future has been kicked out of the game.The weight of the present has become heavier and the only thing that people want. The present is here and now. Win or out.

“It is acceptable bit I always guided this club with one idea - that this club is first about values, values that have been created by the past.

“I serve with integrity and total commitment and respect values. We must not forget tradition and class when we speak about this club.”

Wenger gets up to speak

Wenger describes it as an immense privilege to be speaking here for a 21st time.

“I dedicate 99% of my lifetime trying to make you happy. Looking at today, that is not easy. My determination is as strong as ever.”

He adds: “A football club is about the past,present and future.”

Gazidis is attempting to flip the mood after those clear votes of no confidence from shareholders.

We are now watching a video of some of the good bits from Arsenal.

It includes a screen that posed the question ‘where does it [the income] go?

There were a couple of chuckles as the video proceeded to show some of Arsenal’s signings, starting with Granit Xhaka.

And they have wasted no time to squeeze Eddie Nketiah, the two-goal hero of Tuesday’s Carabao Cup win over Norwich into the video.

The 18-year-old striker’s dramatic burst onto the scene this week was certainly an Arsenal feel good story.

Ivan Gazidis now speaking...

He says: “The focus will be on the negatives and concerns but there is a lot happening across our club and many positive ways it affects the community we connect with.

“We can take pride in the record breaking FA Cup win but behind that he investment in our men and women’s team, our people, our facilities and our community.”

The ‘action’ is about to resume.

And the Josh Kroenke resolution will also be passed, once more despite the votes not being counted.

The shareholders didn’t get their wish but they certainly made their point.

Arsene Wenger, looking annoyed with the length of the delay due to the poll, has wandered off stage and out of view for a bit.

Stan Kroenke is staring at a piece of paper in front of him, effectively ignoring the process.

This is process and response from the supporters is significant and shown as a big show of their dissatisfaction with the running of the club.

It is also the first time a resolution over a re-election has been defeated.

Now the vote for Josh Kroenke. Usmanov has again voted in favour.

A poll vote is required for Josh too. Another delay expected.

Sir Chips re-elected

David Miles says the poll result is confirmed despite not being counted.

That announcement sparks murmurs around the room.

He says: “Poll vote now been completed, even though vote is not counted, evident resolution passed!”

He adds: “The final result will be announced later today.”

Expect more of the same

When we’re done with the formalities of re-electing Sir Chips, the same thing has to happen with Josh Kroenke.

Though not as unpopular is Chips, we’re likely to need a similar poll.

One thing that will be interesting to see is whether or not Usmanov votes for Josh’s re-election.

Slight delay in proceedings following a vote on Sir Chips Keswick’s re-election...

Those in attendance are clearly against it after a show of hands vote and despite a second call, offering the audience to change their mind, the verdict is conclusive.

A poll vote is now being carried out among those here at the Emirates to confirm their stance, though they are warned they also have proxy votes and 97 per cent have voted in favour of Sir Chips Keswick to remain.

The feeling among some fans here as that this vote will have little impact, however, they have got their point and unhappiness across.

Resolution: Should Sir Chips be re-elected to board?

David Miles: “Proxies voting in favour together amount to over 97 per cent of the shareholding.”

Worth noting here that Usmanov (not present) also voted in favour of Sir Chips.

Board now asked about Gazidis's considerable pay

Sir Chips Keswick rides in to defend Gazidis: “It is important that all the remuneration remains competitive. Our CEO’s pay is comparable to that of others of a similar stature at other clubs. Ivan is doing a fantastic job and representing it in the PL, European Club Association we are fortunate to have him as our CEO.”