In today’s announcement of the expansion of its Managed Funds subsidiary it says …
“Adelaide Bank today announced another key step in its diversification strategy with the expansion of its Adelaide Managed Funds Limited subsidiary including the establishment of an independent Board. “
Further down in the announcement it says …
“The Board is to be made up of Mr Fitzpatrick, Adelaide Bank Chairman, Dr Adele Lloyd and Adelaide Bank Chief Operating Officer, Mr Jamie McPhee, ……”
What is an independent board ? Not sure how important it is that the board is independent, just curious that the announcement claims it is.
ADB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
