A CALL has been made for Australian Wool Innovation (AWI) directors Meredith Sheil and Chick Olsson to resign their positions following a letter from Italian manufacturers accusing the two of having a conflict of interest.
Victorian Liberal Senator and member of the Senate Rural and Regional Affairs and Transport Committee, Senator Julian McGauran, said the signed letter by some of our biggest wool customers was the last straw in what has been an ongoing saga of alleged conflicts of interest by the two directors.
The conflict of interest relates to a possible commercial stake by the two directors in the drug Tri-Solfen and its alleged promotion through their position on the AWI Board.
“The conflict of interest issue has been building up for over 12 months and the two directors have failed to dispel the perception that they are using their position on the Board as a commercial spring board.
“They only had to say 'no?'” Senator McGauran said.
Senator McGauran said that at a Senate Estimates hearing last year even the Chairman of AWI, Mr Merriman when questioned by him did not know whether there was a real or perceived conflict of interest by the two directors regarding their commercial interest in the drug Tri-Solfen.
“There has been a veil of secrecy around the involvement of Dr Sheil and Mr Olsson's alleged commercial interests in the drug Tri-Solfen…it is time the veil was lifted.
“There has been too much ducking and weaving as to the true standing of the two directors which has cost the Board its credibility at home and abroad.
“It is better that the two directors place the reputation of the Board and industry ahead of their own interests and resign,” Senator McGauran said.
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