Companies

May 17, 2012

Rinehart’s pitch for Fairfax board: why it’s going wrong

The effort by Australia’s richest businesswoman, Gina Rinehart, to break into the boardroom of Fairfax Media, is a textbook study in how not to conduct a negotiation.

The effort by Australia’s richest businesswoman, Gina Rinehart, to break into the boardroom of Fairfax Media, is a textbook study in how not to conduct a negotiation, according to experts.

Objectively, Rinehart has an excellent case in pressing for a board position. She bought shares in Fairfax at a time when other key investors were bailing out and the share price struggling. Rinehart is now the single biggest shareholder, with about 14%. Her interests are strongly aligned, in principle, with those of other shareholders.

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One thought on “Rinehart’s pitch for Fairfax board: why it’s going wrong

  1. Ned Sarko

    Give us a break. The Fairfax stock has tanked. They’re probably about to report giant financial debacles. The board is in disarray. They don’t know what to do (sell radio? buy web sites? cut staff? hire staff?) and have hired about a dozen bunches of consultants(!)
    Gina’s just shaking them down. And she’s clearly making headway. (And don’t you love that funny story in the Oz about how the board has a secret pact about not interfering with editorial.)

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