Ellison's slow walk out under scrutiny
Not since Horatio Nelson chose to deliberately ignore a signal to retreat has one man sailed into storm as violent as that confronting Chris Ellison , the embattled chief executive of Australian miner Mineral Resources.In Nelson's case it was allegedly his holding a telescope to a blind eye which was the excuse to pressing ahead with an attack at the Battle of Copenhagen in 1801, earning him a famous victory.
High on the list of questions shareholders could ask is how did it all go so wrong so quickly and why Ellison's tax avoidance schemes and private business dealings with company assets was never revealed by the company.But the first question from the floor is likely to be why Ellison is still chief executive and might still have the top job in 18 months, because in any other company a quick departure would have helped cauterize the bleeding.
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