A family-owned freight empire has collapsed with debts of more than $116 million,as the liquidator and creditors accuse its high-flying director of repeated breaches of his duties.
There was no plank walking for this human headline/inappropriate social media lothario. The lack of punishment would be unthinkable in most large Australian listed companies.
ASIC chair Joe Longo wants Australian companies to improve the overall quality of their boards,amid ongoing discussions in corporate Australia on the role of diversity policies.
The APRA is set to call time on long-serving,incompetent and conflicted directors under a planned major shake-up of standards at banks,insurers and super funds.
ASIC deputy chair Sarah Court is vowing to turn a blowtorch on corporate Australia so people have “some control over where their money goes”.
The woman who has accused WiseTech Global’s chairman of providing her with a visa in return for sex has been assisted by lawyers at Anti-Slavery Australia.
ASIC says it is making preliminary inquiries into WiseTech after a boardroom implosion and allegations against founder Richard White.
If the bosses of BHP or the Commonwealth Bank were accused of bullying or branded “LinkedIn lechers”,they wouldn’t have a job. WiseTech’s Richard White,however,gets promoted.
The software giant’s board exodus is a clear demonstration that money trumps optics. Key man risk doesn’t come any riskier than Richard White - but he and his allies call the shots.
The disclosure sparked drastic action from the corporate watchdog to investigate conduct at the Super Retail Group over a claimed affair between the chief executive and a staff member.