As the Banking Royal Commission “scorches jewels of our market”, Jonathan warns that systemic change to corporate governance in Australia is not the answer.
“The road to corporate governance nirvana is what is and has always been: the golden mean”, he says.
“It is about finding the optimal balance between compliance and strategy; between independence and alignment; between having directors close enough to management so as to know what’s going on, but not so close that perspective is lost.
“Our system of corporate governance supports and promotes the pursuit of that optimal balance. The failures indicate that we don’t always get there.
“The current corporate soul searching should result in recalibration, tweaking and finessing of those balances.”
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