Institutional investors are quick to bang on about corporate governance and holding boards to high standards – until it is counter to their self-interest. Mineral Resources is a perfect case in point.
Which begs the question: who should a board listen to? The rusted-on core supporters, which in MinRes’ case is a group of a dozen or so institutional investors – none of whom wanted an immediate cleanout – or the other potential capital providers slinging mud from the sidelines and watching on in disgust?
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
