To be fair to the CEO operational matters like the mechanics of a payment system, and the subsequent transaction reporting, would not necessarily be something that the CEO would have visibility over or knowledge of. A sacrificial lamb, albeit a big one, but the market would accept no less.
There will be more. Those with oversight of international payments and risk functions would be very very nervous right now. There should be a wholesale clearing of the decks in those areas.
Ann: Westpac Board announces CEO and Board changes, page-8
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