Super funds nominating directors to boards ‘unwise’

News Snapshot:

Warwick Negus, chairman of property group Dexus and the Bank of Queensland, said super funds had “every right” to nominate directors to a board if they believed the company was not addressing their concerns. Katrina Rathie said protocols and legal guard rails would need to be put in place before a super fund could nominate a director to a board. Dominic Lorrimer But, Mr Negus said, “that director will need to understand that it is not possible to represent a single issue at the board table and one director does not necessarily guarantee the outcome that the super fund wants”....