Spate of business scandals puts Australian boards on notice

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A common thread to the controversies has been whether oversight of the country’s largest companies has been bent to the will of powerful executives

Chris Ellison, a brash Australian billionaire, made global headlines in August when he declared that he wanted to keep his staff at his company’s head office in Perth “captive all day long”. The founder and managing director of Australian miner Mineral Resources singled out staff leaving the building to buy coffee as the sort of thing that costs companies money.

White denied that he had acted inappropriately during discussions with the Wisetech board but further reports, including an accusation of a bullying culture within the company from a former board member, proved to be the catalyst for White to step down from his executive roles. Wisetech said White would continue to act as a consultant to the company. Elsewhere, Nine Entertainment, Australia’s largest local media company, published a damning report into its corporate culture last month.

 

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