Humm, a financial services firm, is facing ongoing leadership instability as chair Teresa Dyson and director Abigail Cheadle announced they will not stand for re-election at the company’s November shareholders’ meeting. Dyson, who was appointed chair in May, will have served just over five months in the role, marking the third chairperson turnover at Humm within the calendar year.
The company’s founder, Andrew Abercrombie, stepped down as chair in February following controversy surrounding his share purchases. His successor, Robert Hines, held the chairmanship from February until May, when both he and Abercrombie resigned amid a push by activist investors, led by Jeremy Raper, to remove them. Dyson subsequently took over the position.
Abercrombie attributed the current turmoil to the activities of activist investors, claiming their campaign destabilized the company and resulted in significant financial losses for them. He described Dyson and Cheadle as having joined the board “amongst chaos.” The firm also faces pressure related to its remuneration report, which received a first strike from shareholders at the 2025 annual general meeting. Another strike at the upcoming meeting could trigger a board spill.
Last year, listed debt collector Credit Corp made an unsolicited bid for Humm valued at approximately $385 million, offering either 77 cents per share through a scheme of arrangement or 72 cents via an off-market takeover. Abercrombie privately rejected the offer but increased his shareholding by 3 percent following the company’s disclosure of the bid, an action the Takeovers Panel ruled as unacceptable and misleading. His voting rights were temporarily suspended, and he has launched Federal Court proceedings against the panel; judgment is pending. Abercrombie remains the largest shareholder with more than 30 percent of the shares.
Separately, concerns have been raised about the leadership style of the current U.S. Treasury secretary, Bessent, who has a reputation for being combative, demanding, and temperamental. Supporters argue that his intense approach drives effective execution of the administration’s agenda, citing his prior experience managing an investment firm. Former Trump White House strategist Steve Bannon described Bessent as “mission-oriented” but quick to anger, emphasizing results over staff sensitivities.
Critics within and outside the Treasury describe a high-pressure workplace environment under Bessent’s leadership, with some former staff citing personal clashes as reasons for departure. One former counselor described him as professional and respectful but demanding, reflecting his stature as a prominent macro investor.
High-stress episodes have included public discord with foreign officials, such as Mexican President Claudia Sheinbaum, who in 2025 challenged Treasury sanctions against Mexican financial firms connected to alleged opioid trafficking. Bessent reportedly urged staff to respond forcefully to her remarks, and internal communications indicated he was losing his temper during the incident.
Advocates for Bessent credit his leadership with mitigating higher bond yields and stabilizing currencies such as the Argentine peso and the Japanese yen. Although economic growth has not reached the administration’s 3 percent target, it has been reasonably steady and may be accelerating due to advances in artificial intelligence.
These developments at Humm and within the Treasury highlight ongoing challenges in corporate and governmental leadership amid competing pressures from shareholders, political agendas, and complex global economic conditions.