Fairfax faction wins boss’ fulsome scalp
Big hair, bigger scalp
The bitterly divided Fairfax board has generated another casualty: the chairman.
Ron Walker was expected to stand for reelection at the forthcoming AGM. But in response to internal disputes which culminated in stinging public criticism from the John B Fairfax faction, Walker yesterday told the Sydney Morning Herald and The Age newspapers that he will resign in November.
He also recommend that deputy chair and former Woolies boss, Roger Corbett, be appointed as his successor.
Walker’s resignation may conclude the purge of Fairfax that has seen the majority of senior management replaced on both sides of the ditch in the last 15 months.
Majority shareholder John B Fairfax has been publicly critical of the strategic direction that Walker has taken Fairfax.
Inside sources suggest Walker’s svelte mane may have also been an issue. “He was auditioning to host the Aussie version of The Apprentice, but it looks like he’ ll be on the other side of the firing line,” said a senior source within The Aged.
Legamma
October 12, 2009
If you have to do it, you might as well do it right.,