Kerr Neilson, who left the company’s board in November, says there was not enough “critical assessment” amid poor performance and a slump in share price.
Kerr Neilson, the billionaire co-founder of Platinum Asset Management, is pushing for Andrew Clifford to step down as the fund manager’s chief executive, and says he could be open to takeover offers as the company battles lacklustre investment returns and a slump in its share price., said he had been privately campaigning to split the chief executive and chief investment officer roles for years, despite being “embarrassed” to suggest the change given he also held both positions concurrently.
“The main issue is that if you have these commingled roles, I just think you don’t get enough critical assessment of the team and its behaviour,” Mr Neilson told the“You run the risk of being the gamekeeper and the poacher. You’ve got to have someone appraise your own performance, and who does that. I’ve been agitating for it for a long time [but] no one was wanting to hear me. They didn’t see it as clearly as I did.
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