Correct. Narev and the chairperson should have been sacked immediately and replaced with someone totally new and from an outside source if they were to retain their status and integrity levels.
If that was to be the case, the sp wouldn't have dropped so much and possibly the fines imposed wouldn't amount as to what they could be.
If they were to do so in sacking them both immediately, and the BOD would have taken this course of actions, chances are that they would have shown some form of contrition for what they did which could turn in their favours.
Even when anyone goes to court for any offence, if he /she doesn't show any contrition or remorse, the judge will impose the maximum penalty available to him.
Unfortunately for all of us though they didn't, and Narev is still there until he is ready to leave and the Chair is still there for as long as she want to be there.
CBA Price at posting:
$73.86 Sentiment: None Disclosure: Held
(20min delay)