The abrupt (foreshadowed) resignation of CEO Hugh Marks was announced on Saturday 14 November 2020, a day when the ASX does not trade.
It is because he is in a relationship with a former quite senior Nine female staff member who recently departed the company.
I have no objection to people who meet at work (at whatever level) and date, marry, or live together. My parents did, and so would many of other ASX followers.
Nine is a politically correct company that appears to delight in such rules. In this case it's going to cost quite a bit to pay out the CEO and find a suitable new one even though Mr Marks says he'll be around to assist with the transition.
Very poor that this matter came to everyone's attention on a Saturday, especially since the company held its AGM during the week and neither Peter Costello nor anyone else mentioned it.
Do we as a community or as shareholders now say that no one can date anyone else at work, marry them or live together?
Please spare me the 'power imbalance' mantra. It takes two to tango.
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