'Confidence' in CBA's Ian Narev is a hollow cliche

SMH | 08 August 2017 | News

In the sporting world, the expression "having the full support of the board" has become such a cliche it has even made it into the Urban Dictionary.

The definition is: "Something that a football club's board will say to the media about their coach two to four weeks before firing him."

It can also be applied to companies. Take Uber boss Travis Kalanick, who resigned amid a firestorm shortly after the board's Arianna Huffington told the media "the board has confidence in Travis".

Ditto for the boss of BP in 2010 and Yahoo's chief executive in 2011 who was sacked by phone within weeks of the board supporting her.

Quick Poll

Which stock will rank best
BHP
CBA
GOOGL
AAPL
MSFT

CBA may face class action over money laundering

SMH. 23/08/2017.

The Commonwealth Bank faces a potential investor class action over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws,..

Domino's shares drop $1 billion in minutes

SMH. 16/08/2017.

When a company announces a $300 million share buyback, misses key financial targets and reveals its chief executive is selling shares, it's a sign..