By Kishor Napier-Raman and Noel Towell
The struggle for control of baby formula producer Bubs descended into a battle for the hearts and minds of the shareholders who will settle the issue at next month’s extraordinary general meeting.
The latest haymaker came on Sunday afternoon when James Jackson, the former Elders chairman who chairs the Save our Bubs group, led by Kristy Carr, the company founder who was ousted in a boardroom coup in May, announced he wanted to lead the board.
Shareholders have looked on in bewilderment at the very public fallout between Bubs Australia founder Kristy Carr (right) and her board of directors, now led by chair Katrina Rathie (left).Credit: Nine
Jackson penned a note to shareholders in response to a missive to investors a few days earlier from Katrina Rathie, the incumbent chair who leads the group that did the ousting.
Jackson’s letter accuses Rathie of “malicious and misleading” claims in bagging his experience and skills set and even includes a cheat-sheet for investors to study, comparing his boardroom experience against that of Rathie, whose CV he insists lacks substance.
Jackson goes on to say that Save our Bubs will have more to say on Rathie’s statement, which you can read on the ASX website, and in particular more “misleading and malicious” claims against another would-be director Peter Nathan.
For anyone who needed “further convincing”, Jackson promised a more fulsome statement from Save our Bubs soon, about “why the current inexperienced and deeply conflicted board should be removed and be replaced by our highly credentialed ‘Dream Team’.”
A Bubs spokesperson launched a spirited defence of Rathie’s credentials on Sunday, saying she was one of Australia’s most respected corporate lawyers, had been partner-in-charge at King & Wood Mallesons and had strong dairy and baby formula experience from work with Nestle, Wyeth, Blackmores and Aspen.
The spokesperson also pointed out that Rathie had been hired by Carr and her business partner, Dennis Lin, another victim of the boardroom putsch and who is also a player in Save our Bubs.
“The current Bubs’ board is very clearly superior to the candidates proposed by Mr Dennis Lin and Ms Carr,” the Bubs spokesperson added.
COUP TUBE
On Saturday, the world held its breath as thuggish mercenary leader Yevgeny Prigozhin threatened to march his troops on Moscow in a now-aborted rebellion against Russian President Vladimir Putin.
On the ABC’s 24-hour news channel, viewers were treated to reruns of Landline and Media Watch, generating an outpouring of online rage at the public broadcaster for going missing in action at one of the most chaotic, consequential moments since Russia invaded Ukraine last February.
“What is the point of ABC News?” opined Lucy Turnbull, in a series of tweets attacking the broadcaster’s perceived lack of coverage.
That intervention wasn’t well received at Ultimo.
“If Lucy Turnbull is concerned about ABC services, maybe she should have a word to her husband about the impact of budget cuts and the indexation pause delivered while he was communications minister and PM,” one anonymous ABC manager told CBD.
But it wasn’t just Turnbull weighing in; there were a series of stinging tweets posted from people who are normally friends of Aunty.
“Best to stick with current programming rather than be relevant,” was the swipe from South Australian Labor minister Tom Koutsantonis.
“Coups are happy to wait until Monday,” quipped former senator Cheryl Kernot.
Russia’s hostility to foreign media and its sanctioning of many Australian journalists has only made rolling coverage trickier. One of the unsanctioned ones, though, is the ABC’s self-appointed Russia expert Matt Bevan, who spent the day making jokes on Twitter.
An ABC spokesperson said the broadcaster’s coverage across platforms was “comprehensive”, and “ABC News Channel provided live coverage on Saturday from 7am to 12.30am and overnight coverage from DW. This coverage included Russian President Vladimir Putin’s address live, with live translation, and featured analysis and insights from global affairs editor John Lyons.”
Still, it’s been a decade since the public broadcaster had a dedicated Moscow correspondent, during which point we’ve seen plenty of brutal budget cuts and poor judgement from pencil-pushing middle managers.
Monica Attard delivering updates from atop a tank during the failed 1991 Soviet coup against Mikhail Gorbachev seems a distant memory.
VAN HIRE
Embattled Victorian Senator David Van, who denies allegations of sexual harassment and groping made against him by Lidia Thorpe and Amanda Stoker, won’t be parting with his $217,000-a-year salary any time soon.
A recent job advertisement doing the rounds this week suggests the senator is after a new diary manager for his Melbourne electorate office.
Bad PR aside, it seems a handy gig for an experienced PA or office manager with “a focus on diary management, administration and logistics for the senator and the office”.
At least they won’t have to worry about scheduling attendance at party room meetings.
Van told us on Sunday that “this position arose after all parliamentary offices were awarded an extra position in the May budget”.
DROPPING THE BALL
The post-World Pride narrative that Sydney is “so back” was hit by a rude dose of reality at the Aurora Ball on Saturday night, a glitzy event at Town Hall designed to raise money for LGBTQI organisations that truly fizzed.
Despite drawing a crowd of around 400, the event struggled to bring in the dough. During a live fundraising session, a bar on a screen was set up to track money pouring in toward a $150,000 donation goal. They gave up at just $35,000.
Perhaps it’s another sorry reflection of our current cost of living crisis, but Sydney’s corporate titans, who in years past had splashed out at the event, failed to show up.
Instead, we got a few pollies – Clover Moore gave a welcome speech and promptly left, while minister Penny Sharpe and Jo Haylen stuck it out, as did Sydney MP Alex Greenwich.
At 11pm, just as the dance floor was heating up, everyone was kicked out. This is Sydney, after all.
Cut through the noise of federal politics with news, views and expert analysis from Jacqueline Maley. Subscribers can sign up to our weekly Inside Politics newsletter here.