4 Corners 29 Jun 2020 Aviation
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Ex- Minister John Sharp
John Sharp’s claim that he privatised the airports just shows again what the Nationals think of aviation in Australia🤦♂️
The worst decision ever made and the real effects are about to be felt with any new start up trying to deal with greedy ALCs and let’s not forget ASA.
Good grief!
The worst decision ever made and the real effects are about to be felt with any new start up trying to deal with greedy ALCs and let’s not forget ASA.
Good grief!
Liz Bryan certainly displayed that she didn’t understand that the Board has to provide oversight of the CEO to ensure that the business is run in a sustainable manner - throwing JB under a bus is an attempt to cover up her own shortcomings.
The Qantas board isn’t any better, if someone takes Joyce to task over any issue, he spits the dummy and walks out - meeting adjourned.
The Qantas board isn’t any better, if someone takes Joyce to task over any issue, he spits the dummy and walks out - meeting adjourned.
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Amazed me they interviewed EB who clearly stated the need to move on CEO's at times, JB says he remained another 3 years at "the board request".
No follow up to EB as to why he remained (as he claims) another three years at the board request....or was JB lying?
Seemed an obvious question to me as conflicting statements from the players.
Cheers
No follow up to EB as to why he remained (as he claims) another three years at the board request....or was JB lying?
Seemed an obvious question to me as conflicting statements from the players.
Cheers
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Interesting that the Chairperson absolved herself from the outcomes of the companies strategy. One of the primary duties of the board is to ensure that its enterprise is heading in the right direction (Tricker 2019). If strategy has been devolved to the CEO and executive, as is common with boards consisting predominantly of non executive directors, then the board should be approving the strategy proposals. Ultimately they are called directors because they set the organisation’s direction. If they don’t know this one would have to question why they were on the board.
Thread Starter
I think it is pretty obvious who is not telling the truth here. It is not like the board didn’t know JB was still getting a pay cheque....
Last edited by ozbiggles; 30th Jun 2020 at 02:35.
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JB appointed JT in late 2016 with the express purpose of stepping down and handing the reigns over to JT, JT would have needed probably 18 months under his belt before then so that would peg JB's ideal retirement in early-mid 2018, and even after JT was fired, JB announced in something like late 2018 his intention to retire in mid-2019, so he was moving in that direction for some time. I think EB is just trying to make herself look good so that she can pick up more board appointments.
You only have to look at the banking fiascos in this country to see how much responsibility board members take.
Money for old rope, and a great gravy train to be on (if one of your friends can get you on).
Money for old rope, and a great gravy train to be on (if one of your friends can get you on).
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JB appointed JT in late 2016 with the express purpose of stepping down and handing the reigns over to JT, JT would have needed probably 18 months under his belt before then so that would peg JB's ideal retirement in early-mid 2018, and even after JT was fired, JB announced in something like late 2018 his intention to retire in mid-2019, so he was moving in that direction for some time. I think EB is just trying to make herself look good so that she can pick up more board appointments.
Thanks.
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Head in the sand
ANZ CEO Luxon told the Board and EB in no uncertain terms that JB was running the place into the ground in 2017. The Chair and the Board went with JB, and ANZ exited. To now say that the board had no idea that the CEO was running a poor business, including 5 years of losses is chutzpah on steroids
Interesting to see what happens to their collective Directors insurance premiums, this year
Interesting to see what happens to their collective Directors insurance premiums, this year
JB would have been out years ago if he was a CEO. As a Director, it was impossible for the Board to have the conversation about getting rid of him, nor take steps to hire a replacement, without his consent. Managers should NOT be Board members.
I would suspect there may be some unsecured bondholders who'll be looking very closely at the performance of the Virgin board over the last 5 years……
It's one thing to lose your investment but entirely another if there's some suggestion of negligence.
It's one thing to lose your investment but entirely another if there's some suggestion of negligence.
ANZ CEO Luxon told the Board and EB in no uncertain terms that JB was running the place into the ground in 2017. The Chair and the Board went with JB, and ANZ exited. To now say that the board had no idea that the CEO was running a poor business, including 5 years of losses is chutzpah on steroids
Interesting to see what happens to their collective Directors insurance premiums, this year
Interesting to see what happens to their collective Directors insurance premiums, this year
Thread Starter
I’m not sure the board exists anymore does it? They don’t deserve to if they do still exist. I don’t think there are to many fans of Jayne out there but the current board haven’t achieved anything in 10 years.
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The Rex part of the story could have been an episode on its own. McCormack really had no answers to defend the treatment give to Rex.
While Borghetti was rightfully thrown under the bus, Bryan really came across poorly. Takes no responsibility but if the plan was a success, she would have taken a lot of credit
While Borghetti was rightfully thrown under the bus, Bryan really came across poorly. Takes no responsibility but if the plan was a success, she would have taken a lot of credit
