Opinion
Hard lessons for boards on who really calls the shots
Shareholder reactions to dramas at AMP, QBE and Rio Tinto have reinforced a small but growing shift in the power balance between directors and investors.
James ThomsonColumnistIt takes a certain flair to stand out in the most incredible year since World War II. But somehow AMP, QBE and Rio Tinto have managed to do just that.
AMP's disastrous promotion of rainmaker Boe Pahari, QBE's sacking of chief executive Pat Regan and Rio Tinto's devastating decision to blow up the 40,000-year-old Juukan Gorge rocks shelters are, of course, linked by the monumental corporate misjudgments – even stupidity – at the heart of each matter.
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