I picked up on it. I rang PH last late-Friday (after the announcement dropped) to find out WTF was going on. He said his resignation from his director role was temporary and procedural (<-- my paraphrase) and was related to super fund requirements (i.e. age-based requirements around transitioning his super fund from accumulation phase to pension phase. Yes. it's a thing.). He assured me that he will be reappointed as the Chair to commence on 27 Oct when DLF (current Chair) steps down, as per the announcement released on 22 Sep. (Side note: The Leadership Transition announcement back on 22 Sep talked about the transitioning, but was completely silent on this quirky action that gave rise to justifiablealarmuncertainty following the release of the statutory Appendix 3Z disclosure. He told me the information was contained in the announcement. I told him it was silent on that aspect. Ambiguous at best.)
In other news, I'm still waiting to see what shareholder-related 'alignment' changes the Board will make leading up to the AGM and Rem Report voting. I sat down with PH and the HR consultant recently. I will say that that interaction didn't inspire me with much confidence that the Board truly grasps the seriousness of that issue. However, I'll wait and see what transpires between now and the voting deadline before commenting further.
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