Boards of big companies are demanding management re-test strategic forecasting models to ensure they are robust after the collapse of three offshore banks in the past fortnight. Those boards that are not, should be, say experts.John Mullen says Telstra and Brambles are reviewing their banking counterparty risks.“What is scary is that a lot of banks and companies are struggling under the surface and people are afraid of what comes next. A lot of leaders are scenario planning.
John Mullen, chairman of telecoms behemoth Telstra and logistics company Brambles, said management at both groups were testing assumptions contained in the outlook for the rest of this year, as well as medium term plans, “in the light of global inflation and potential recessionary conditions”.Mr Mullen said the two companies were also reviewing their banking counterparty risks following the upheaval in the US and European bank sectors.
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