Perpetual board fails to show the slightest contrition for failures
There have been plenty of governance fails among ASX-listed companies. But the speed and scale of wealth destruction at Perpetual ranks it among the worst.
The 207-minute duration of Perpetual’s annual meeting provided plenty of time for shareholders to contemplate whether the investment giant’s board could be among the worst in Australian corporate history.
Sure, there have been plenty of governance fails among ASX-listed companies. But the speed and scale of wealth destruction at Perpetual makes it a perfectly valid question to ask.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
