Ann: Andrew Abercrombie Appointed as Chairman of FlexiGroup, page-2

Well, as I suspected, Abercrombie re-took the chair role because if differences of view on FXL's focus on growth vs infrastructure. I didn't realize that Abercrombie still had such a large holding. Also notice from today's ASX announcements that Chris Beare and Ann Ward held NO SHARES in FXL. A golden rule is that directors should have some skin in the game (not necessarily huge, just enough to matter).

I suspect that Robbiati's focus on infrastructure (better online technology) was partially correct, but may have been too distracted by it and did not have experience in growing businesses through acquisitions and new products. Also, recall the AFR article in June suggesting that Robbaiti and some staff were not aligned in their views (perhaps for same reasons?).

Here is the SMH article, noting particularly the following statement: "It is understood Mr Abercrombie and Mr Robbiati clashed over the former CEO's approach to these businesses."

http://www.smh.com.au/business/bank...hairman-exit-follows-ceo-20150810-givx2y.html