Mar 25, 2008

As Allco burns, Sir Rod shares some pearls on the boardroom

When eight of the nine Allco plays have destroyed more than 80% of their equity value in less than a year, it is amazing that non-executive director Rod Eddington will even show his face in public, writes Stephen Mayne.

The Centre for Corporate Law and Securities Regulation held a seminar in Melbourne last week on the topic "Director's duties: Navigating the storm on board". Sir Rod Eddington was listed as one of the speakers, but given the Allco Finance Group implosion, I paid the $99 fully expecting Australia’s busiest professional director would be a no show.

Alas, there he was, listening closely to Bob Baxt talk about legal defences when directors get sued and then holding forth on what makes a good board with the following points:

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3 thoughts on “As Allco burns, Sir Rod shares some pearls on the boardroom

  1. Dr Harvey M Tarvydas

    Alas “amazing”. An intelligent general analysis of Sir Rod projects him as you and others know/identify him. Very different the strict psychological analysis wherein the “amazing” act says it all. Freaks are delicious & poison in turn. Know your stuff

  2. Tom Veidners

    Stephen – is it possible that you have used the word “alas” out of context in your article? The definition defines alas as “an exclamation to express sorrow, grief, pity, concern, or apprehension of evil”?

  3. Geoffrey Walker

    Allco was not mentioned by name but it was clearly alluded to in the answer.

    Buying all those hybrids when you did belies your reputation as good analyst, although it undoubtedly provides another axe to grind.

    Credibility is a two way street.

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