Coles: Why we sacked Bowman
COLES MYER is defending court action by sacked finance director Mr Philip Bowman based on "damaging" remarks allegedly made by his partner at a Toorak dinner party in July, according to documents filed yesterday by the retailer.
In its particulars of defence, filed in the Victorian Supreme Court, Coles alleges that the views expressed by Ms Geraldine de Malet were shared by Mr Bowman, and that both he and Ms de Malet made unauthorised disclosures to other parties.
The document quotes reported claims by Ms de Malet at the Toorak home of Coles CEO Mr Peter Bartels, including:
* That senior members of the "Jewish Fraternity" supported the elevation of Mr Solomon Lew to executive chairman that month;
* That Coles Myer's Tooronga headquarters was a "giggle farm", "a loony house" and "full of geriatrics";
* That corruption existed at all levels at Coles corporate headquarters.
Coles also claims that Ms de Malet later told another person that Mr Bowman would soon replace Mr Bartels as CEO and that Mr Bartels was already seeking legal advice on the matter.
In addition, the document alleges that Mr Bowman "did not seek to disassociate himself from the views expressed by Ms de Malet, but instead said that the views expressed by her were their 'joint views'."
Coles also alleges that, despite several opportunities, Mr Bowman did not substantiate the claims by Ms de Malet nor explain her conduct to Coles' directors, including Mr Lew.
Last week Coles issued its brief defence to Mr Bowman's claim seeking $2.2 million plus damages for wrongful dismissal.
By BILL PHEASANT
Dec 28, 1995 – 11.00am
https://www.afr.com/politics/coles-w...19951228-k6p0i
PHILIP BOWMAN VINDICATED
He was sacked by Coles Myer and told he might never work again. Now he runs a huge global firm and talks about what's wrong with Australian business.
When Philip Bowman was sacked as Coles Myer finance director in 1995, some of the titans of the Australian business community told him he might never be able to work again. Bowman was the whistleblower on the notorious Yannon deal which had the effect of relieving a company owned by Coles Myer chairman, Solomon Lew, from an expensive underwriting obligation.
Lew denied he knew that Coles Myer had indemnified the purchase by shelf company Yannon Pty Ltd of $25 million worth of Premier Investments preference shares from Rodney Adler's FAI Insurances . This deal eventually cost Coles Myer $18 million.
And it cost Bowman his job.
After a four-year investigation into Yannon, no charges were laid. But by then Bowman had long since moved on: he had left Coles Myer, and he had left Australia. Determined to stay employed and in business, he rebuilt his career in Britain.
Lenore Taylor, LONDON
Jun 7, 2003 – 10.00am
https://www.afr.com/politics/philip-...20030607-j72dv
Originally Posted by Ogg
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