Business

Jun 13, 2018

After an unfair coup, Grant King should be re-appointed to the BHP board

Grant King's ignominious exit from the BHP Billiton board may have been a big moment for director accountability in Australia, but it was an entirely inconsistent one.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Grant King BHP

The departure of Grant King from the BHP Billiton board last year was a pivotal moment for director accountability in Australia. It also set a new benchmark which will be hard to follow.

The former Origin Energy CEO faced a coordinated push by institutional investors and the proxy advisory firm Ownership Matters, concerned by the LNG write-offs at Origin and ill-disciplined debt-funded capital allocation decisions. King spent 16 years as Origin CEO and did a good job for most of that time, so much so that he was deemed suitable in November 2016 to replace Catherine Livingstone as President of the Business Council of Australia.

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2 comments

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2 thoughts on “After an unfair coup, Grant King should be re-appointed to the BHP board

  1. Arky

    “Grant King is a class act”

    Says you. He might well be, I don’t know the man, but this feels like campaigning on behalf of a mate and if so that should be disclosed. Nothing is said as to what makes this particular middle-aged white executive so deserving of a continuing ride on the gravy train (it’s not like it’s generally hard for such men to find other well-paying jobs, after all), except the bald assertion that he’s a “class act” and the argument he was treated unfairly (perhaps, but so are all the “class act” women who aren’t on boards at all, and for that matter class act men who didn’t know the right people and slap the right backs to get into the cozy club to begin with).

    1. Andrea

      Middle-aged? From the photo he looks to be in my parents demographic, but I thought I was approaching middle age, whatever that is these days. Do you mean middle-class? (another ambiguous term thrown around with gay abandon I reckon)

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