Most definitely.........

Should Australian CEOs have their passports confiscated?

10 February 2016

http://www.afr.com/personal-finance/shares/should-australian-ceos-have-their-passports-confiscated-20160202-gmk8id

by Stewart Oldfield

IAG bought the UK's fifth-largest motor insurance broker Hastings in 2006 along with a related underwriting business for £140 million ($286 million). Chief executive Mike Hawker described the acquisition as the "perfect entry point" to the British market.  After racking up huge losses in a soft British motor insurance market, the business, run by local entrepreneur Neil Utley, was sold in 2008 as part of a £23.5 million management buyout. With increased investment, a refocus of its strategy and a change in market conditions, something of a turnaround followed.

Last year, Hastings generated customer growth of 17 per cent and profit growth of 19 per cent to £105.7 million. Recent surveys have highlighted the biggest rise in car insurance premiums for five years in the UK.  In October, the business was floated with a market cap of £1.1 billion after raising £166.5 million from new shareholders. A global roadshow for the Hastings IPO took in Europe and the United States. Australia was not included.These days Hastings is positioned as a nimble operator with a