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Rear Window

December 2025

Mike Cannon-Brookes, Andrew Forrest, Luke Sayers, Richard Goyder, Jamie Pherous and Peter V’landys made regular appearances in Rear Window this year.

Billionaires, boardrooms and office romances: Rear Window’s 2025 year in review

There was no shortage of hypocrites in corporate and political life in 2025, and a veritable surfeit of illicit office romances.

Racing NSW chief Peter V’landys and Vicky Leonard, managing director of The Thoroughbred Report.

Who is paying Peter V’landys’ legal fees?

The powerful sports administrator recently launched a 24-hour legal attack on the independent racing media, raising the questions about who will be left with the bill.

Debby Blakey knows what good governance looks like, even if HESTA’s appears to be lacking.

HESTA’s glass house starts cracking

Debby Blakey is usually the bravest among big investors at calling out ESG shortfalls. But when it came to HESTA’s own governance problems, there were crickets.

Brunwick’s Pru Bennett.

ANZ recruits for Operation Save Paul O’Sullivan

The embattled board has turned to a proxy whisperer. You can be sure it’s another bill picked up by the bank’s shareholders.

ECP’s Jared Pohl.

ECP’s ‘forensic research’ somehow missed Corporate Travel

The family fund manager will be hoping the history of the troubled ASX-listed company misses its contribution.

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Sophie Galaise and Leanne Coddington celebrate QPAC at Government House.

MSO’s star witness Sophie Galaise returns from hide-and-seek

Most arts institutions are sprinting away from any Israel and Palestine-related scandal. QPAC is running towards it.

Former assistant national secretary of the Australian Manufacturing Workers Union Glenn Thompson.

The $45m Tim Tam loan and what makes due diligence

The Finance Department conducted “desktop due diligence” before adding Glenn Thompson to the National Reconstruction Fund. It’s somehow worse than it sounds.

ASIC is questioning KPMG over staff misconduct. Only informally, of course.

ASIC questions KPMG over employees using AI to cheat on tests

It’s not a formal investigation, but it’s still a quicker response from the watchdog than the last time news of auditors cheating came to light.

David Clarke and Helen Lofthouse will be hoping for a better 2026.

ASX can’t even get its own revenue numbers right

It’s another error on the exchange’s long list of mistakes in the past 12 months, though at least it’s a small one.

Graham Richardson in 2014.

Richo’s state funeral gets mysteriously downsized

In death, the Labor machine man got awarded with the government organising his funeral. But there’s been a last-minute change.

Jamie Pherous may be Corporate Travel’s biggest name, but questions are now being asked about those who served under him too.

Corporate Travel’s executive alumni have moved on

Corporate Australia is a small place, so it shouldn’t be surprising two of its former execs have found a new home at the same ASX 50 company.

NRW chief executive Jules Pemberton.

Sanjeev Gupta’s biggest creditor posts unbeatable pay records

Shareholders have again given the middle finger to NRW Holdings for the way it pays executives.

Andrew Pridham and Chris Wyke.

At MA Financial, Andrew Pridham isn’t holding all the cards

The vice chairman might be the frontman for the ASX-listed investment bank, but there are less flashy executives.

The member for Bradfield and sustainable Christmas, Nicolette Boele.

The teal Christmas tip list is peak hypocrisy

The newest independent MP, Nicolette Boele, has instructions for constituents on how to decrease waste – not hers though.

Fred Schebesta cleaning his Crypto Castle.

Fred Schebesta told to stop the parties at Coogee mansion

Randwick City Council may be trying to slow down the eastern suburbs crypto king, but locals are sceptical he will care.

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PwC is trying its best to not be collateral damage of Corporate Travel’s woes.

What did PwC know about Corporate Travel?

It seems the consulting giant spotted issues at Jamie Pherous’ company after all, at least enough to try to protect its own back.

Reform UK Leader Nigel Farage attends a rally in Wales last month.

Sky News cash-for-comment lines Farage’s pockets

The once-proud “Australia’s News Channel” has paid the UK right-wing politician $63,000 in the past eight months.

David Di Pilla is the largest shareholder in HMC Capital, with 41.6 million shares.

David Di Pilla’s stealth family takeover of HMC Capital

The extended family of the country’s dealmaking impresario now marshalls more than 20 per cent of the asset manager.

Woolworths then-CEO Brad Banducci mid-storm out.

Don’t be Brad Banducci, Westpac instructs staff

The former Woolworths chief executive storming out of an ABC interview has become the stuff of public relations legend.

Billionaire-ambassador Jared Novelly.

Billionaire Jared Novelly’s misfiring court fetish

Donald Trump’s future ambassador to New Zealand keeps coming undone to a certain Supreme Court judge.

Original URL: https://www.afr.com/rear-window