AFG 0.50% $2.01 australian finance group ltd

mansfield faces challenge

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    Bob Mansfield has been named as the permanent chair of struggling Allco FinanceGroup, after acting in the position for half a year. The Australian-listedstructured finance group is facing collapse as its liabilities outweigh itsassets by at least $A250m and it is currently seeking yet another extension ofarrangements with its bank lenders. Mansfield has accepted some of the blame atthe company's AGM, but was also quick to deflect some of the responsibilityto the global credit crisis. His previous career included such highlights asleading roles at McDonald's Australia, Singtel Optus and Telstra, althoughhis brief time at the helm of Fairfax Media was less successful
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