May 4, 2019
The Mayne Report has long had a theory that trouble is more likely to hit public companies which have a chairman who lives in a different city from the head office and CEO. The near collapse of Commander Communications is the latest addition to the list.
Stan Wallis: lived in Melbourne when Sydney-based AMP almost went under.
Geoffrey Cohen: the Melbourne-based chairman of HIH Insurance when Ray Williams was destroying the company from Sydney.
Elisabeth Nosworthy: lived in Brisbane when Melbourne-based Commander Communication flopped.
Rick Allert: lived in Adelaide when Melbourne-based Coles hit the rocks.
Rick Allert: chaired Adelaide-based Southcorp from Adelaide but CEO Keith Lambert was living in Sydney when he mismanaged the once great Australian wine company.
Bob Mansfield: chaired Telstra from Sydney but his CEO Ziggy Switkowski lived in Melbourne.
Peter Willcox: Melbourne-based chairman of AMP when it almost down in the early days under Sydney-based CEO Andrew Mohl.
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