Ann: Update on the ANZ P&I business transaction, page-4

I'm still at a loss to understand what it is that was done that was so materially wrong and/or illegal to cause the market value of the business to fall by almost $1.5bn and to cause the "ex head honchos" to be suspended from doing their jobs.

Presumably there has been some serious failings in terms of them performing their duties, but such failings have not been articulated and until they are articulated and substantiated, I can't see why the two executives in question need to exit the business.

Don't get me wrong; on the face of it, the contemptuous attitude of the CEO before a weighty official inquiry is very bad indeed, but bad attitude and lack of demonstration of respect are not, on my understanding, breaches of any regulations/laws.

As a part-owner of this business, I'm critical of the public behaviour of my company's CEO, but I'm a big believer in due process, so I can't accept that the "ex head honchos" need to resign, until I see legal reason for them to do so.