ANZ boss Shayne Elliott opted not to say, “We stuffed up, let’s move on”. This is his email to the bank’s staff in the aftermath of an historic payout to Indian billionaires Pankaj and Radhita Oswal. The settlement is said to be north of $200 million. Shareholders will take a $145 million hit.
Email from ANZ boss on record payout to Indian billionaires
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Michael West established michaelwest.com.au to focus on journalism of high public interest, particularly the rising power of corporations over democracy. Formerly a journalist and editor at Fairfax newspapers and a columnist at News Corp, West was appointed Adjunct Associate Professor at the University of Sydney’s School of Social and Political Sciences. You can follow Michael on Twitter @MichaelWestBiz.