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Michael Pascoe criticises Eddington's appointment as ANZ chairman
Prominent Australian business commentator Michael Pascoe has criticised the appointment of former British Airways and Ansett CEO Rod Eddington as the new chairman of ANZ Banking Group, saying it was an error because of Eddington's directorships of Allco Finance, News Corp, Rio Tinto and JP Morgan Australia and his lack of banking background.
"Only if you take the view that people learn most from making mistakes could you say Sir Rod's boardroom CV qualifies him to be the bank's chairman," Pascoe said an opinion piece published in the Sydney Morning Herald.
* This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
2 Comments
I read this online on
I read this online on the SMH and thought why can't we have press who express themselves so freely like this on our corporate boardroom appointees. Just for a change let's read why these guys could be wrong before the event not in the carnage afterwards.
HBOS (the largest provider of
HBOS (the largest provider of UK mortgages) almost went bust recently until the UK govt. helped them off the mat.
If you're wondering which former job the CEO of this bank had before he drove HBOS into the ground, wonder no more, he was in charge of ASDA (the third largest supermarket chain in the UK). Raises a few questions eh ?