CEOs, boards at the mercy of employees’ revolt

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The sacking of James Hardie’s chief executive shows the scales are tilting in favour of employees and away from domineering executives.

A month after Christine Holgate appeared on the front of the Australia and New Zealand edition of the magazine as its “cover star”, she was forced to resign as chief executive of Australia Post following an attack by Prime Minister Scott Morrison relating to the purchase of a few Cartier watches.

He is the latest in an ever-lengthening line of ASX-listed company bosses who have been turfed following complaints by underlings. While Truong’s sacking stands apart from the notable recent examples of executives fired after alleged sexual harassment, he joins a group of leaders whose behaviour has been deemed at best aggressive and at worst to constitute bullying and harassment.

“I think the James Hardie board deserves praise for their actions and transparency in providing reasons as to why their CEO was leaving when others have commonly cited ‘personal reasons’,” Blurton said. Still, Hammes promoted him above a rival candidate, former chief financial officer Matthew Marsh, after he was buoyed by a majority of respondents who said that despite Truong’s faults, he would likely be the right person to deliver performance at the company.this week. “Because everyone told him.”

 

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