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Board shake-up

Today

WiseTech global founder Richard White.

WiseTech’s former chairman returns as independent director

Andrew Harrison has been appointed as a director to the Richard White-run software giant in an attempt to soothe growing investor angst over governance issues.

Advertising executive and Qantas board director Todd Sampson.

Qantas director and advertising expert Todd Sampson resigns from 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.

This Month

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.

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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.

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.

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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.

Richard White, WiseTech Global’s founder and chief executive, and Christine Holman, who was briefly a director of the company.

WiseTech director’s scathing assessment of ‘bully’ Richard White

Christine Holman accused the software giant’s chief executive of intimidation, bullying and overseeing poor corporate governance as she quit in 2019.

Cobram Estate co-founder Robert McGavin will prolong his stay on the company’s board.

Glass Lewis backflip prompts AGM proxy process questions

It is one thing to have a view, it is another to stand behind it. How much work goes into some of these proxy recommendations?

August 2024

Prepaid gift cards company EML Payments has announced the departure of chairman Luke Bortoli.

EML Payments chairman resigns after board clash over credit card use

Luke Bortoli, also the chief financial officer at lithium hopeful Pilbara Minerals, said he was pleased to leave the prepaid gift card group in “great shape”.

Luke Bortili.

EML Payments chairman’s corporate credit card ignites boardroom clash

The prepaid cards business said it had undertaken an “independent review of expenses incurred by directors and management” but decided against taking action.

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