AMP and Rio Tinto both failed the new standards of corporate culture. But they are facing different levels of accountability, with David Murray resigning as AMP chairman, while Jean-Sebastien Jacques gets a pay cut. What comes next?
The simultaneous implosion of two of Australia’s most iconic companies over a failure of corporate culture is no coincidence.
Both demonstrate the massive risk for business leaders unable to adapt quickly enough to altered shareholder expectations and build on strengths rather than paper over weaknesses.
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Jennifer Hewett is the National Affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
