Sorry - Talk Is Cheap

Westpac's Maxsted apologises for culture and governance failures

Summary: 

"Sorry" didn't cut it at Westpac's 2019 AGM. Shareholders grilled and heckled Westpac chairman Lindsay Maxsted for more than six hours at the AGM, putting the board on notice that further accountability will be sought.

The AGM came just weeks after the financial crimes regulator Austrac launched legal action in the Federal Court against the bank, alleging 23 million breaches of anti-money laundering laws, including links to payments funding child exploitation.

A beaut report from Joyce Moullakis & Richard Gluyas.

Article Information
Category: 
Banking Company: 
Westpac
Author: 
Joyce Moullakis & Richard Gluyas
Source: 
The Australian
Date First Published: 
12 Dec 2019
Posted By
Peter Brandson
Peter Brandson's picture

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