The Australian people don’t just own the national broadcaster on paper,they feel that ownership at a visceral level.
The outgoing CEO will receive a $1 million exit payment plus leave entitlements,but forfeits the rights to up to $22 million in potential future share awards..
As with any addiction,the first step to recovery is admitting the problem. Meet the new additions to Earnings Anonymous:NAB's Andrew Thorburn and Ken Henry.
The fallout from the banking royal commission has added flame to Annette Emerson’s burning fire to switch banks.
Police have frozen assets of Andrew Thorburn's chief of staff Rosemary Rogers including a $1 million NAB cheque and $6.3 million property porftolio.
National Australia Bank has been plunged into turmoil,with chairman Ken Henry and chief executive Andrew Thorburn both resigning in the wake of blistering criticism from the banking royal commission and a deepening crisis over alleged rorts by a former senior staffer.
The federal opposition and governance experts are unimpressed by the dramatic resignations of NAB's chairman and chief executive.
Once Kenneth Hayne singled out Andrew Thorburn and his chairman,Ken Henry,from a multitude of equally-deserving peers for harsh criticism in his final report they were on shaky ground.
Police investigate if shoddy oversight in the office of the NAB boss enabled a staffer and a contractor to pull off a suspected multi-million dollar fraud.
The reaction to the royal commission's final report might suggest the major banks got off lightly. They didn't.
National Australia Bank chief executive Andrew Thorburn has hit back at stinging criticism from royal commissioner Kenneth Hayne.