September 1, 2019

BREACH OF FIDUCIARY DUTY: Sacrificing Too Much For Diversity. “Mr Harvey said he was frustrated by super fund executives and their boards, so-called corporate governance experts and fellow travellers in the social corporate responsibility industry who were pressuring him to change his business practices, saying if he followed their ­guidelines Harvey Norman would ‘go backwards’. Rival ­retailers such as Myer and David Jones had slavishly adhered to the corporate governance orders laid down by these groups, he said, but their businesses were now paying the price, with his own Harvey Norman ‘beating the shit out of them’. . . . Last year businessman and company director Chris Corrigan unleashed his own withering attack on the corporate governance industry and its push for gender targets for women on public company boards, accusing advocates who foisted gender equality on companies of bullying.”

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