Australian big businesses are tough. They will get rid of the big ones too when we are talking about a public company where big shareholders can change the board. It's not like Aust Post where it is not subjected to the pressure of shareholders. I remember the last scandal about Westpac failing to stop bad monies (money laundering and child sex exploitation) going through their system and they suffering a billion dollars fine? I remember the CEO had to go. One more misstep this time and the CEO and the chairman would have to go as well. They know to watch their steps very carefully now. Their path is full of dog shit now. James Hardie recently fired a high performing CEO for bad behaviours. And bad financial performance is always worse than bad behaviours! Especially when it is so public and the share price has been clobbered by the market and the shorts.
WBC Price at posting:
$20.17 Sentiment: None Disclosure: Held
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