The $40,000-a-year private school, facing an Old Boy revolt over a plan to admit girls, is very sensitive about how its school council is run.
At Newington College, where tuition costs up to $40,000 a year, the decision to admit girls has triggered plenty of apocalyptic thundering: the school’s council chairhas become a lightning rod for the outrage of a certain type of deeply triggered Old Boy.
Nonetheless, McDonald seems to have learned a few things about running listed companies. Last year, he proudly told the college’s magazine that he ran the council just like an ASX board.McDonald, who has been on the college council for 17 years, and chair for nine, might therefore be aware that the ASX is a little sceptical of tenures as long as his own.
Anyway, Newington is clearly reeling from all the bitterness about going co-ed, because the response to our thorny questions about governance and succession planning was quite defensive. Now CBD reckons any move that drags a joint like Newington into the 21st century is a good one. But to do that effectively, you may need to follow 21st-century corporate governance standards, too.that means leaving the sordid world of party politics behind and opening up a bar-cum-nightclub.
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