While I have the greatest respect for Mr Beament's exemplary achievements as CEO and obviously as a leading NST board member, I have to express my concern as a matter of principle that combining the chairman and CEO roles is always inadvisable.
Notwithstanding the impressive qualifications of the new board members, I don't think any shareholders can be assured that, given Mr Beament's record of great achievement at NST, anyone in the company could restrain the Executive Chairman from anything he may be determined to do.
I emphasise that I'm stating this ONLY as a matter of proper corporate governance, and from bitter experience in other Australian companies.
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