Fortescue director Sebastian Coe was pressured into buying shares in response to investor concerns the board contains too many acolytes of Andrew Forrest.
, former Exxon executive Jean Baderschneider, Dexus director Penny Bingham-Hall and Rockefeller Foundation trustee Li Yifei.
Lord Coe is currently serving his second stint on the Fortescue board after being a director between October 2003 and April 2004 when the stock was fetching less than $1. Lord Coe’s level of investment in the company caused further headaches for Fortescue when the ASX enquired as to why disclosure to the market on December 14 had taken longer than market rules required.
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