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Board shake-up

This Month

Bloomberg

ASIC’s WiseTech investigation goes from preliminary to formal

The corporate regulator has already examined current and former directors at the logistics software giant as it probes disclosures made about share trading.

Virgin Australia aircraft in Sydney. The company hopes to be listed on the ASX by June.

Virgin board overhaul brings in Qatar executive, ex-Macquarie chairman

The airline has formally appointed Peter Warne – among others – as a director, two years after he was first announced, as it prepares to rejoin the ASX.

Former ANZ director Jane Halton, chairman Paul O’Sullivan and outgoing CEO Shayne Elliott.

Inside the ‘great frustrations’ between Shayne Elliott and ANZ board

The veteran banker is finishing as chief executive next month – after nearly a decade, regulatory reprimands and plenty of tension at the top.

Shoe boss Daniel Agostinelli has joined the board of luxury platform Cettire.

Cettire recruits Accent shoe chief Daniel Agostinelli to its board

The online luxury store has overhauled its board and appointed the veteran retailer as it faces continued investor uncertainty about its outlook.

March

WiseTech global founder Richard White.

WiseTech investors say they want new CEO, but back White

A shareholder sentiment survey came as the software giant said former chairman Andrew Harrison would return as lead independent director.

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Advertising executive and Qantas board director Todd Sampson.

Advertising expert Todd Sampson resigns from Qantas board

The airline has appointed former HP chief executive Dion Weisler in his place, meaning five of seven directors have been installed in the last three years.

Investor Nick Bolton is likely to appeal the decision.

Bolton removed from Keybridge Capital board in stoush with Catalano

The activist investor has, however, talked up the decision as a victory, saying he has “never seen such competition to be on the board of an insolvent company”.

Executive chairman of WiseTech Richard White’s return to the company was marked by the resignation of independent directors.

ASIC calls in former WiseTech directors to provide evidence

ASIC has begun interview four former WiseTech directors who resigned from the board over a dispute with founder Richard White.

Robert Millner is the chairman of Soul Patts and has been on the company’s board for five decades.

APRA-style term limits would wipe out up to 30pc of ASX directors

The 10-year limit outlined by the regulator on Thursday would send hundreds of directors out the door if they were introduced across industries.

These are the high-profile directors APRA is pushing out the door

Nearly a quarter of directors at the nation’s largest superannuation, insurance and banking institutions could be forced out under proposed term limits

February

Board independence is the first line of defence between bad decisions and shareholder losses.

Founder empathy is testing the limits of good boards

Independence, like value, is largely in the eye of the beholder. And investors are doing their homework on captured directors.

Keybridge Capital’s Nick Bolton.

Keybridge’s lawyer warned against using administration to avoid board spill

Silk Andrew Broadfoot urged Keybridge to be cautious about a decision to appoint an administrator days before a shareholder meeting.

‘I am WiseTech’: How Richard White regained control of his company

On one side was a group of independent directors with their reputations on the line. On the other, a powerful founder with everything to lose.

Macquarie and Lendlease director Phil Coffey says a director’s job is to keep management focused on a business’ critical drivers.

Inside Australia’s boardrooms, Trump’s a speed bump

Tariffs here one day, maybe gone the next. Australian business is trying to see through directors call “noise”, but can’t ignore the chaos.

December 2024

Malcolm Broomhead will retire from Orica in 2025.

Orica chairman Malcolm Broomhead to step down

A veteran of some of Australia’s most powerful boardrooms has announced plans to step down from his last major corporate directorship.

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November 2024

Best & Less acquirer Brett Blundy bought up City Chic stock last year.

City Chic chair hits the phones ahead of AGM

With the shares off 73 per cent over the past year and considering 27.6 per cent of shareholders voted against its report at the 2023 AGM, it’s only prudent for Michael Kay to get on the front foot.

Ramsay Health Care runs the country’s biggest network of private hospitals.

Ramsay investors push for shake-up of ‘failed’ overseas expansion

The country’s largest private hospital operator is facing demands from shareholders to discard international operations and focus on its local facilities.

Nora Scheinkestel and other directors at Westpac’s annual meeting last year in Brisbane.

Two Westpac directors leave after just three years on coveted board

The resignations add to a significant transition for the bank, with a new chairman appointed last year and a fresh chief executive starting next month.

MinRes chairman James McClements’ listening tour is a classic case study in corporate life in 2024.

Why every director should fear a MinRes on their watch

Who’s happy at Mineral Resources? No one. That’s what happens when you’re jammed between investors and the outside world.

October 2024

HESTA’s Debby Blakey, Australian Retirement Trust’s Ian Patrick, UniSuper’ John Pearce and IFM Investors chair Cath Bowtell gave interesting accounts of how they monitor and enforce standards in ASX-listed companies. The approaches differ.

How big super became the corporate enforcer

Few could’ve predicted who would be enforcing standards in corporate Australia in 2024. It’s all about the weight of money.

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