Just after Maxsted's demise, when I thought it was safe to come out and buy, the Westpac throws a Peter King as CEO appointment curve ball just to cause mayhem to the price and to the ASX see the AFR Headline see below.
If Peter King was CEO material, surely he would have been appointed before now? Can we have an end date to his term and the sholder terms as sholders with King at the helm?
ASX to fall sharply; Peter King named as Westpac CEO
IMHO, the AFR is right. Peter King as CFO created the conditions whereby the AML scandal happened, presided over staff cuts that facilitated the CAs, facilitated the AML scandal, caused Capital Raisings, and lower net dividends.
Will he now change course and increase the numbers of staff upwards to reduce the scandals, increase the dividend and reverse the course of his career trajectory and career work?
The market does not think so. Keep my sentiment at hold but only just. Hopefully Peter King reverses course but it will be a sell for mine if he continues his life's work.
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