Star directors the masters of their fate
The job of a director has evolved over time, but what rules and regulations can't control for is competence.
Last Monday, Justice Michael Lee – yes, him again – was grappling aloud with the reasonable expectations of former directors of Star Entertainment, several of whom are in Federal Court defending civil penalty proceedings brought by the Australian Securities and Investments Commission.
Those directors' defence, when it's boiled down, is that they couldn't have been expected to comprehend Star's dodgy dealings because they were buried so deep in the board papers. The always highly quotable Judge Lee put it to their barrister that directors "just can't keep on saying that, 'Oh well, it's all too difficult for us to read the material that's presented to a board'… Do [they] say, 'Please don't give me all my directors' fees because I can't get through all the work'?"
By Tuesday, though, his Honour was pondering the contrary argument, that "one must be careful [about] imposing an unrealistic burden on people performing a function which is not a full-time function".
Brian Hartzer has the answer, of course: just get the AI version of yourself to read the board papers. Problem solved!