Fund managers are now trying to price the unpriceable risks of berserk founder-CEOs and of being transacted out of high-performing companies with zero recourse.
Over a decade, Westpac has lurched from one personnel blunder to the next. But like choosing an ugly bridesmaid, every chair and CEO dreams of finding someone worse to make him look better. The bank’s arrival at Steven Gregg is simply another outworking of that truth.
