What a weak Board. Who runs BOQ? It's Board or APRA? Of course from a prudential perspective they have to take note of the regulator but ultimately it's the Board that is paid and whose responsibility it is, to make a decision. This is a non decision that sees this weak Board abdicate its duties to unelected public servants. Had they said something along the lines of 'in the current environment we are cutting the dividend by 30%'they would have been applauded as prudent and able to balance the various stakeholders' interests. But they didn't.
Given they seem to have given up on running the company, why don't they 'defer' all of their directors' fees and share the pain they have inflicted on the owners of the Bank.
What a weak Board. Who runs BOQ? It's Board or APRA? Of course...
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