ASX 200 down 1.7%: Afterpay sinks on PayPal news, QBE … Affected by Ex-Tropical Cyclone Mangga and need assistance? QBE chief warns that severe weather may force premiums to price out customers for certain types of insurance in Australia and around the world.
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This is also known as Online Behavioural Advertising. They are not just tick-the-box things. February 17, 2020 by Charlotte Grieve
Shares in insurer QBE have fallen by more than five per cent after its group CEO departed following an investigation into workplace communications. A … Some of it was warm and fluffy, such as "Pat Chat", the weekly email or video he sent around to improve communication across the group.But the biggest part of his cultural rebuild was setting group-wide values.Some described the way QBE ran as a business, such as "we are customer-centred" or "we are technical experts".But in hindsight, the most important values set behavioural standards for the group – "we are diverse" and "we are courageous" and "we are accountable".On those three values alone it is pretty obvious that had the board not made the tough call on Regan, it would have flown in the face of all the work the CEO had done on culture over the past three years.While Wilkins will be able to draw on his experience stepping in to run AMP following its disastrous implosion at the Hayne royal commission, there is no doubt he has a huge job ahead of him in replacing Regan, albeit for a short period.But at least Regan has cleaned up the business significantly, and put it in a much better place to withstand major shocks.Follow the topics, people and companies that matter to you.Traders are ratcheting up bets on a particularly turbulent US presidential election on November 3, and a potentially messy aftermath.WeWork has opened its 22nd location in Australia and local outfit Workit Spaces has taken up a third site.Foreign Minister Marise Payne announced an expanded emergency loan scheme as almost 23,000 Australians are stranded overseas but wanting to get home.COVID-19 restrictions on movement resulted in retail services, such as hair and beauty salons, crashing in the June quarter. Information on QBE’s response to COVID-19. An important line in the sand has been drawn here by the QBE board and particularly chairman Mike Wilkins, who will step in to run the company, This is a decision that says high-flyers will no longer be given a free pass on the non-negotiables of a strong, modern corporate culture, such as diversity and inclusion, but crucially the right of every employee to feel safe and respected at work.The QBE board did not look away. However, all employees must be held to the same standards.”Mr Wilkins will take on the role of executive chairman, and the day-to-day oversight of QBE, while it searches for a new CEO.The board will begin an external culture review in the coming weeks.“We want our people to have the avenues they need to safely speak up with the confidence that they will be heard and that all concerns raised will be treated consistently across our workforce,” Mr Wilkins said.Regan’s alleged misconduct comes a week after AMP lost its chairman David Murray and board member John Fraser, following a shareholder revolt against the appointment of Boe Pahari as CEO of AMP Capital.A sexual harassment claim was made against Mr Pahari in 2017. ... “Corporate Australia can ill … The dismissal of the insurer's chief executive is another own goal for the company, but it is also a definitive moment for culture in corporate Australia. Copyright 2018 QBE Insurance (Australia) Ltd. All rights reserved. Picture: Hollie Adams/The Australian Source:News Corp Australia “We are committed to having a respectful and inclusive environment for everyone at QBE,” QBE chairman Mike Wilkins said. Pat Regan is leaving after three years in the job as the board said it had to take "decisive" action after receiving the external report.
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