Fairfax serves a whopper

Advertisement

The AFR has just announced that Gina Reinhart allie, Jack Cowin, is to be appointed to the Fairfax board. However, the Chairman, Roger Corbett:

…warned that there was no connection between Mr Cowin’s appointment and Mrs Rinehart’s campaign for a seat on the Fairfax board.

…It is understood Mr Cowin has agreed to Fairfax Media’s governance principles and has accepted the media group’s charter of independence as part of accepting the board role.

Mr Corbett said that “our discussions with Mr Cowin over recent months have made it clear that he has considerable value to add to our company”.

Of course! Fairfax needs another foodie on the board. Given Corbett’s experience as a grocer has not yet been enough to turn the firm around, Cowin’s experience at Hungry Jacks will prove invaluable.

Advertisement
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.