How chairs and CEOs depart in quick succession

AMP, 1999-2000: Chairman Ian Burgess and four other directors resigned on April 3, 2000 and they'd earlier dumped CEO George Trumbull on July 26, 1999 and instantly replaced him with Paul Batchelor, so both gone within 9 months.

AMP, 2002-03: Paul Batchelor was sacked as CEO on September 24, 2002 and chairman Stan Wallis resigned on February 25, 2003 so both were gone within five months.

AMP, 2020-21: announced on August 24, 2020 that chairman David Murray had resigned as a result of mishandling sexual harassment claims at the company. He was replaced immediately by Debra Hazelton. Alexis George was announced as the new CEO on April 1, 2021 and her predecessor, Francesco De Ferrari, was out the door by June 30, meaning both leaders had changed in 10 months.

ANZ, 1992: The early retirement of chairman Milton Bridgland and CEO Will Bailey was announced on April 9, 1992 with Bridgland replaced by John Gough in July and Bailey replaced by Don Mercer around the same time after being named successor on May 28, 1992. In November 1992 ANZ announced a record $600 million loss and both chairman and CEO had gone in the previous four months.

BHP, 1998-99: CEO John Prescott was finally sacked on March 4, 1998 and chairman Jerry Ellis announced his early retirement on August 3, 1998 although he wasn't actually replaced by Don Argus until early in 1999 once he'd finished up as CEO of NAB.

Commonwealth Bank, 2017-18: as the various scandals erupted over money laundering leading into the Hayne Royal Commission, chairman David Turner exited the board on December 31, 2016, and then new chair Catherine Livingstone announced the exit of CEO Ian Narev on October 2, 2017. Initially, it said he would be gone by Easter 2018 but he fully exited after Matt Comyn was announced as his successor on January 29, 2018, effective April 9, although he didn't exit the board until April 18, meaning both leaders were gone within 16 months of each other.

Lend Lease, 2002-03: Greg Clarke replaced David Higgins as CEO on December 9, 2002 and Jill Ker Conway was replaced by David Crawford as chairman on May 29, 2003. Chairman and CEO both gone within six months. More than 20 years later, they are still a mess.

NAB, 2004: the foreign exchange crisis saw Charles Allen resign as chairman on February 16, 2004, just two weeks after CEO Frank Cicutto exited on February 2, so both departed in the same month and in less than 5 weeks after the $180 million unauthorised foreign exchange trading loss was disclosed on January 13, 2003.

NAB, 2019: after disastrous Royal Commission appearances, the departure of chairman Ken Henry and CEO Andrew Thorburn was announced on February 7, 2019 with Thorburn formally leaving leaving the board on February 28. His successor Ross McEwen was announced on July 19, 2019. He started on December 2. Phil Chronican was announced as the new NAB chair on March 6 and Henry formally left the board on November 14 ahead of the December AGM, so the two leaders both departed within 10 months.

Orica, 2001: Don Mercer replaced Ben Lochtenberg as chairman on May 2, 2001 and Phil Weickhardt was ousted as CEO on July 5, 2001. Malcolm Broomhead was announced as new CEO on August 23, 2001. Chairman and CEO were both gone within two months.

Qantas, 2023-24: Qantas initially announced on May 2, 2023, that long serving CEO Alan Joyce would hand over to successor Vanessa Hudson in November after the AGM. After swirling media and political coverage about COVID-era abuses, Joyce brought forward his departure by 2 months to September 5, 2023, and exited immediately. Under intense pressure, chair Richard Goyder then announced on October 11, 3 weeks before the November 3 AGM, that he would retire before the 2024 AGM. There will still big protest votes. John Mullen was announced as chair-elect on February 21 with a July 1 start date in terms of becoming a director and then a handover some time before the AGM. He then joined the board earlier than expected on April 22, but Richard Goyder is still yet to leave. It should be both chair and CEO out in less than 12 months.

Slater & Gordon: after the disaster of paying $1.3 billion in cash for Quindell in 2017, chairman John Skippen departed on December 22, 2017, 10 days after former CEO Andrew Grech who left on December 6, 2017. This co-incided with the change of control scheme implementation timetable when a US hedge fund effectively took control. It was amazing that the chair and CEO who led the disaster stayed on the board for 33 months after the Quindell acquisition was announced on March 30, 2015

Southcorp, 2003: Rick Allert resigned as chairman after 19 years on October 31, 2003 and Keith Lambert was sacked as CEO on February 3 2003, so both were gone in less than four months.

Tabcorp, 2020-21: the departures of chair Paula Dwyer and CEO David Attenborough were both announced on July 23, 2020, with the chair exiting by the end of the year and the CEO in the first half of 2021.

Westpac, 1992: chairman Sir Eric Neal and four other directors quit on September 30, 1992, and CEO Frank Conroy quit after 15 months as CEO on December 17, 1992, in response to the bank's record $1.6 billion loss. Therefore, both went within three months.

Westpac, 2019: after AUSTRAC served its whopping money laundering statement of claim, Westpac announced on November 26, 2019 that long-serving CEO Brian Hartzer would be exiting a week later on December 2. Initially, Westpac announced that chairman Lindsay Maxsted would depart "in the first half of 2020". His successor John McFarlane was announced on January 23, 2020 and he joined the board on February 17, allowing Maxsted to depart effective March 31. This meant both leaders left within a 4 month period.

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