“Top CEO says bank needs better directors”
View(s):I was quite amused to read comments made by a CEO of a commercial bank in recent newspapers saying that bank boards’ needs a better composition of directors.
Has it taken him nearly a decade at this bank to come to that conclusion? As a shareholder (of this bank) I wish to ask him if he had no say in this bank when directors were appointed to the board. Who is responsible for the bank’s staggering growth in pawning? Was that a decision taken because the board did not have quality directors? A CEO of a bank is now given the independence by the Central Bank rules and regulations to do what is good for the bank. What did he do after the former CEO stepped down at a time when the bank was the market leader, a position which it has now lost?
As a shareholder I also wish to ask if it is ethical for this CEO to join a competitor without a cooling off period and in addition stealing staff from the former employer. Are these ethical practices? Mr. Editor, are there no more gentleman in the private sector and is the private sector following the route of politicians and their unethical behaviour?
Davinda
Colombo
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