Friday, January 12, 2007

Alinta CEO quits on conflict of interest

The CEO of Australian energy company, Alinta Ltd (ASX:AAN), has quit due to concerns about conflict of interests.

Bob Browning with four other executives have presented a management buyout proposal to the company. Alinta's corporate adviser, Macquarie Bank, is also part of the bid. Serious concerns about conflict of interests have been voiced by investors and analysts and quote rightly so.

Management are the people that know how a business is performing and are best to gauge the future directions and proftiability of the company.

Good Luck Investing.

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