The corporate cost of the Yes campaign
Some corporate groups are rethinking their advocacy policies in line with a global trend in which companies aligning with social causes are encountering increasingly forceful opposition.
For Commonwealth Bank of Australia, it should have been a good news day.
On a sunny Wednesday in October, it was the bank’s annual general meeting and chairman Paul O’Malley and the executive team had an enviable set of results to share. The bank had produced a net profit after tax of more than $10 billion, paving the way for a fully franked dividend of $4.50 a share – an improvement of almost 20 per cent on the year before.
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