Internal succession a sign of inner strength.

Australasian Business Intelligence,  June, 2005  

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Jun 19, 2005 (The Australian Financial Review - ABIX via COMTEX)

Australian banks are increasingly looking externally for CEOs. The appointment of Ralph Norris as CEO of Commonwealth Bank (CBA) is a sound choice, however it is proof that the CBA did not have an adequate succession plan in place. One reason for this trend is the "four pillars" policy. Restricting merger activity in the banking sector makes Australian banks unappealing to many world class executives, who feel that the policy inhibits strategic planning. Internal candidates are usually cheaper to appoint, ...

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