The Australian Financial Review’s investigation into the issuing of Horizon Oil’s lucrative petroleum development license in Papua New Guinea in 2011 has raised serious questions about the conduct of the company.
Chairman Mike Harding has acted properly by standing down CEO Michael Sheridan – who in 2011 was Horizon’s CFO, company secretary and a board member – pending an independent investigation into the corruption allegations by Herbert Smith Freehills and Deloitte, which will be overseen by an independent board committee.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
