McGrath delays decision on future of ‘how many c****’ real estate agent Adrian Bo
McGrath has delayed its decision on the future of top real estate agent Adrian Bo who is under internal investigation for allegedly asking a colleague how many “c**ks” he has had in his mouth.
NSW
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McGrath has updated staff of a move to delay its decision on the future of top real estate agent Adrian Bo who is under internal investigation for alleged misconduct, amid allegations he asked a colleague how many “c. ks” he has had in his mouth.
The initial advisory time frame for a decision by the HR team and external lawyer was Monday or Tuesday of this week. Mr Bo denies the claims.
“We are now not expecting to make a decision this week,” McGrath spokesman Tim Allerton said.
“We are not looking at historical allegations; the investigation is on-going and is focused on the complaint lodged two weeks ago.
“We are not sure exactly when it is expected to conclude but it is unlikely to be this week.”
Share prices at the publicly-listed company dropped 15 per cent over the last seven days to .28 cents on the ASX today while general stock market has gone up in the same period.
Turmoil surrounding married Mr Bo, who is on annual leave as the investigation involving an outside lawyer rolls on, is likely to be weighed up by shareholders concerned with company performance in 2020 given its most experienced sales leader has temporarily bowed out of the spotlight.
The company AGM is scheduled for tomorrow afternoon in Pyrmont.
Three weeks ago, in an internal video to staff, Mr Bo talked of the crucial momentum of sales in the final run-up to Christmas.
“The most important thing to remember in the current season is we’re in the peak of our spring season,” he said.
“The key is to maintain focus of servicing listing and, upon successful sales, clients will spend tens of thousands of dollars to make sure the sales go through.”
The Daily Telegraph revealed the loyal McGrath agent was accused two weeks ago of making lewd comments to a younger male employee asking “how many c**ks” have you had in your mouth”, triggering an internal HR investigation headed by an external lawyer.
He strenuously denies the claim.
One woman resigned last year in June from the firm’s Edgecliff office, citing Mr Bo as one reason for her decision in her letter of departure dated June 15, 2018.
“I am not comfortable working in the business with Adrian Bo,” the letter is understood to say.
Mr Bo was doing a temporary “caretaker” role at the Edgecliff office at the time to fill in for a staff member who had left.
Married Mr Bo, who has worked at the firm for 25 years, is said to be rocked by the allegations.
Company spokesman Tim Allerton added: “McGrath will not comment on specific historical workforce matters but treats all workplace behaviours in a serious and confidential manner for the protection of all of our team members.
“We have a code of conduct and we work to ensure compliance with that code at all times through a variety of approaches, including professional complaint management and appropriate action when breaches occur.”