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0.000575043128234707 0.000575043128234707 -0.00747556066704997 -0.00747556066704997 -0.00816561242093154 -0.00747556066704997 -0.00920069005175389 -0.00862564692351918
Stock impact report

Australian sovereign fund criticizes NAB's leadership change [Reuters]

NATL AUSTRALIA BK S/ADR (NABZY) 
NASDAQ:AMEX Investor Relations: nab.com.au/about-us/shareholder-centre
Company Research Source: Reuters
Australian sovereign fund criticizes NAB's leadership change | Reuters 3 Min Read SYDNEY (Reuters) - The head of Australia’s sovereign wealth fund criticized National Australia Bank Ltd on Monday for the double resignation of its CEO and chairman after a misconduct inquiry, saying it was “not good practice” for both to go at once. The comments from Future Fund Chairman and former federal treasurer Peter Costello put Australia’s big banks on notice that investors are paying close attention to governance issues in the wake of the year-long inquiry into financial-sector misconduct. The Future Fund is Australia’s biggest investor with A$8.5 billion ($6 billion) in shares. “If the NAB was managing itself well ... the chairman would go first and then a new chairman or chairwoman would appoint the CEO,” Costello told reporters on a media call, referring to the resignations last week of NAB Chief Executive Andrew Thorburn and Chairman Ken Henry. “I don’t think it’s good practice to have an ou Show less Read more
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