He was out of action for eight months and had served the eight months disqualified. Exoneration happened only because APRA did not adequately fund the fight in the Administrative Appeals Tribunal directions. See Crickey
https://www.crikey.com.au/2015/02/25/new-telstra-boss-andy-penns-run-in-with-watchdog-lingers/
Basically property and casualty insurance or rather Directors and Officers funding beat the funding of corporate regulator's enforcement budget as I understand what happened in the AXA Directorships.
In the U.S., that sort of thing is harder to fight for Directors than in Australia. In Australia, governance, risk and compliance is quite a few decades behind the States and even Europe.
In any event, did the TLS exec do a due diligence before appointment? Was the Penn AXA case considered? Whom advised the Board?
Where to now for long term investors of Telstra, page-3070
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