humm hires lawyers to probe governance complaints
- humm Group has appointed law firm Gilbert + Tobin to investigate serious governance and employee complaints.
- Company shares stood at $0.42 this year amid mounting boardroom instability.
- The lender seeks to resolve internal governance issues while preparing a legal defence against its former CEO.
humm Group (ASX:HUM) has reportedly hired law firm Gilbert + Tobin to review its governance practices and investigate internal employee complaints.
The investigation follows former CEO Stuart Grimshaw launching court action against the company and its largest shareholder, Andrew Abercrombie.
The law firm will investigate concerns regarding board member Andrew Darbyshire, review the handling of confidential information, and assess claims that staff are seeking to destabilise management.
humm stated that it is currently preparing to defend the court action brought forward by its former chief executive.
Following the announcement, the humm share price came to $0.42.
The non-bank lender has navigated a turbulent period involving three chief executives since 2018 and multiple failed takeover attempts.
The company now faces potential board instability at its upcoming annual general meeting after receiving a shareholder vote against its remuneration report last year.
