End of the road for Ken Henry?

ANZ has had a first strike on its remuneration plan, via the AFR:

ANZ Banking Group chairman David Gonski said the bank faces a first strike against its remuneration report when the shareholder poll is taken later today, with preliminary numbers showing 34 per cent of shareholders voting against it, after “a confronting year for all of us at ANZ, including your board”.

But that pales next to NAB:

NAB has been hit with an unprecedented 88.11 per cent vote against its remuneration report during the bank’s AGM leading to the bank attracting its first ever strike.

…If a bank or company attracts two consecutive no votes of 25 per cent or more, shareholders are able to spill the board through a vote. It is the biggest vote against a remuneration report recorded against an ASX300 company since voting was introduced in 2005.

Farewell Dr Henry.

Comments

  1. Where’s mike smith and Gail kelly, they are the CEOs btw 2009 and 2015 when most of the harm was done ?????

    • The chairman is as corrupt as the CEO according to today’s AFR:
      “Dr Henry and his wife accepted a first-class trip to the US…according to documents released by the Hayne royal commission.

      A spokesman for NAB said the bank acted on whistleblower information. “We continue to co-operate fully with police, who have asked us to provide no further comment on the alleged fraud and the investigation” the spokesman said.”

  2. TailorTrashMEMBER

    National Australia Bank ……..that has such a nice ring to it……
    Could the government really let it sink ?……….bet Ken and Co are shoveling the dosh out of it …on the bet …no
    If all this goes pear shaped and smug Ken doesn’t do big time in the big house …..then there is no National Australia ……..

    • Dr Ken is a “Treasury Executive” with lots of friends in parliament, so no to the sinking of NAB; that dishonour will likely be IOOF and its executives. Remember Lehman brothers and Goldman Sachs ?? Who had the political contacts ?

  3. Ken Henry’s awful, arrogant, incoherent performance at the Hayne RC was something I thought I’d never see. It was simply mind boggling, insulting to taxpayers & baffling to NAB shareholders. He should be pushed. He has a bit of form & needs to be outed. Who asks a total loser in the middle of Qld about tax & then tells everyone he spoke to someone who thought tax was problematic? Turns out the down to earth tax guru KH met in a bar in Qld had not paid any tax or lodged ITR’s for years. Great judgement KH! KH needs to disappear.