Governance News — November 2013

Gender diversity dominated the news this week with the launch of new initiatives by the Business Council of Australia, a group of executive recruitment firms and the Male Champions of Change, aimed at increasing the number of women in senior positions. The desirability and achievability of the initiatives were subsequently debated in the press by academics, commentators and industry participants. The issue of gender imbalances also featured overseas with a new UK report showing slow progress for gender diversity in FTSE 350 boardrooms.

David Jones has also been in the media spotlight with the press reporting that the board, and chairman in particular, are under pressure from investors over: the chief executive officer’s proposed departure and the board’s succession planning methods; shareholder transparency and the board’s interactions with management; the board’s composition; the remuneration report; and DJs’ share-trading policies. The Australian Securities & Investments Commission (ASIC) is allegedly investigating recent share purchases by two non-executive directors just days before quarterly sales figures were announced to the market.

The focus on Wal King also continues with his proposed re-election to the Ausdrill board opposed. As well this week, UGL chairman Trevor Rowe strongly criticised the board culture that allegedly prevailed at Leighton Holdings while King was chief executive officer…

If you are registered and logged in to the site, click on the link below to read the rest of the Minter Ellison briefing. If not, please register or sign in with your details below.  

Sign in or Register to continue reading this article

Sign in


It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer


Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.


Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.


Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.


Level 40, Governor Macquarie Tower
1 Farrer Place

Jurisdiction: Australia
No. of offices: 14
No. of qualified lawyers: 1085