The insurance giant was a market darling, but the past couple of years have been challenging for it as questionable systems and governance have made their mark.
In business timing is everything. For investors in IAG, the timing of a few announcements in the past week should ring alarm bells that the bad news isn’t over for shareholders.
The IAG news cycle began last Monday when the insurance giant issued a statement to the ASX titled “board renewal at IAG”. It flagged ASX chairwoman Elizabeth Bryan would leave at the AGM in October, saying it “coincided with an age milestone” she had set for retirement.
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Adele Ferguson is a Gold Walkley Award winning investigative journalist. She reports and comments on companies, markets and the economy. Connect with Adele on Twitter. Email Adele at adele.ferguson@theage.com.au
