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Board shake-up

This Month

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.

  • Lucas Baird
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.

  • Anthony Macdonald

October

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.

  • Anthony Macdonald
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.

  • Nick McKenzie, Max Mason and Kate McClymont
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?

  • Anthony Macdonald
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August

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”.

  • Max Mason and Jemima Whyte
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.

  • Jemima Whyte
AGL’s Patricia McKenzie settled a hornet’s nest of a situation.

AGL’s accidental chairman a good lesson in leadership

Having settled a hornet’s nest, it must have been tempting for Patricia McKenzie to hang on.

  • Anthony Macdonald

July

Mantra Group chief executive Bob East.

Can Bob East finally find a woman to sit on Cettire’s board?

The addition of investment banker Jon Gidney last week – the first to be added to the board since it listed on the ASX – only highlights the company’s needs.

  • Carrie LaFrenz
Jon Gidney has joined the board of Cettire.

Veteran banker Jon Gidney joins Cettire board

The former investment banking heavyweight has joined the luxury goods platform, which is yet to appoint any female directors.

  • Carrie LaFrenz

June

Former AFL CEO Gillon McLachlan will step into a big new role at Tabcorp.

Businesses failing to weigh wider risks

Readers’ letters on the need for boards to consider risks beyond their organisation; the links between gambling and sport; and the fight against inflation.

More than 50 per cent of ASX200 companies have factored climate change into short or long-term incentive structures, up from only 10 per cent in FY20.

CEO pay goes green, but details lacking on performance measures

It’s one thing to set CEO remuneration based on climate change goals; it’s another to be able to properly measure them.

  • Anthony Macdonald
Sally Pitkin will retire as chairwoman of Super Retail Group after the October AGM.

Super Retail names new chair to replace Sally Pitkin

Judith Swales will exit her executive role at Fonterra and become chairwoman at the retailer behind the Rebel and Supercheap Auto brands.

  • Carrie LaFrenz

May

30pc of board execs to go in two years
1:22

30pc of board execs to go in two years

Quantium’s Adam Driussi says board members who avoid AI will be left behind.

  • Updated
Michael Ullmer

Lendlease chairman to step down at AGM

Michael Ullmer has confirmed he will step down at the company’s shareholder meeting in November, but disgruntled investors want more action than that.

  • Nick Lenaghan and Joshua Peach
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April

Furious about dismissal: Damien Glanville, former CEO of LPE.

Electricity CEO alleges board engineered share sale sacking

The head of electricity services company LPE says he was left in limbo when he told the board he needed to sell shares.

  • Liam Walsh
Former Nine and NRL executive Alexi Baker will be put up for election to the Rugby Australia board.

Ex-NRL executive in frame for Rugby Aus board as club tensions mount

Alexi Baker is one of two candidates up for election at the company’s AGM as it tries to rebuild the game and change its fortunes.

  • Zoe Samios

March

Treasurer Jim Chalmers has rejected the Coalition’s demand that he appoint all existing RBA board members to the new interest-rate setting board.

Chalmers’ RBA overhaul in jeopardy

Treasurer Jim Chalmers may need to secure the support of the Greens to legislate his overhaul of the RBA after rejecting the Coalition’s push for board continuity.

  • Updated
  • Michael Read

February

Richard Goyder at Woodside’s AGM last year in Perth.

Activist shareholder opposes re-election of Woodside chairman

The Australasian Centre for Corporate Responsibility says Richard Goyder has been “persistently unresponsive” to concerns about Woodside’s performance on climate.

  • Updated
  • Angela Macdonald-Smith

Qantas appoints Mullen to succeed Goyder

The chairman-elect has revived hopes the airline can win back the support of its staff and unions as he prepares to succeed Richard Goyder in the coveted role.

  • Updated
  • Ayesha de Kretser

Original URL: https://www.afr.com/topic/board-shake-up-1nc9