The Qantas Chair has announced her intention not to seek re-election at this year's AGM.
Even though she fully disclosed the private equity bid to the market, she endorsed the bid for the company without reservation and when large shareholders rejected the offer her judgment was called into question. The bid failed.
It is the duty of the Board to act in the best interests of shareholders including, it appears, trying to always get the maximum possible price and only endorsing an offer subject to a superior bid by a third party.
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