Managerial Militia in Dick Smith War Zone

 In Australia, NewZealand
Any remaining veneer of a collegiate-like board and management at Dick Smith during the past 18 months of its corporate life has been revealed as a myth. It sounds more like a factional war zone.
The NSW Supreme Court heard on Monday that the chairman, Rob Murray, saw departure of former director Bill Wavish – whose private equity firm Anchorage sold Dick Smith into a public float – was a blessing because of the negative aspects of Wavish’s "leadership and behaviour".
But even more astounding was that Wavish’s long-time partner at Anchorage and previous Dick Smith chairman Phil Cave had the same view. He advised Murray not to go to Dick Smith finance and audit committee meetings chaired by Wavish.
The court heard this was due to Wavish’s autocratic behavioural style and his attempts to intimidate others. Sydney Morning Herald – Read more…

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