Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

My question is to Senator Coonan, representing Senator Minchin, the Minister for Finance and Administration. I refer to the government’s nomination of a close personal friend of the Prime Minister, Mr Geoff Cousins, to the Telstra board against the wishes of Telstra’s directors. Is the minister aware of numerous media reports describing both the volatility of Mr Cousins during his previous board appointments and the fact that he presided over losses of more than $4 billion as CEO of Optus Vision? Isn’t Stuart Wilson, the CEO of the Australian Shareholders Association, right when he says, ‘Cousins’ nomination virtually guarantees board instability’? Isn’t this just another example of a shambolic appointment, simply demonstrating the government’s economic irresponsibility and incompetence around the Telstra sale process?