If you don't know much about cricket or Western Australia, you probably don't know who Justin Langer is.
And that's fine.
But if you're a cricket fan or a West Australian and you don't know who Justin Langer is, that's a different story.
In fact, that could be seen as a cause for concern.
For Western Australia, Langer is more than a legendary Test cricketer.
He is an institution.
Langer symbolises success, stability, credibility, reliability, and certainty.
And many other good things investors like.
So, when it was announced this week Langer was quitting his lucrative gig as a Mineral Resources Ltd (ASX: MIN) director, suddenly the extent of the miner's leadership issues became increasingly apparent.
Ball tampering
Langer has long been seen as a safe pair of hands, particularly for Australia's national cricket team.
In 2018, Australian cricket came under international scrutiny when the national men's team was involved in a ball tampering scandal.
With the team's reputation damaged and leadership in disarray, the country turned to Langer.
The former opening batsman helped restore the team's honour as head coach from 2018 to 2022.
Back then, few questioned the former cricketer's appointment as head coach of the national team.
But eyebrows certainly raised when it was announced that Langer, who at the time lacked experience as a public company director, would join Mineral Resources as a non-executive director in late 2022.
It's unclear what exactly Langer did as a non-executive director at Mineral Resources.
But whatever it was, he must have done it well.
Rats and ships
A series of scandals involving Mineral Resources founder and CEO Chris Ellison, including allegations of tax evasion, rocked the miner in late 2024.
In a bid to restore confidence in the company and its leadership, Mineral Resources announced in November 2024 it would establish an ethics and governance committee.
But that plan backfired when board members Susie Corlett, Jacqueline McGill, and Denise McComish all left the company and the ethics committee within a few weeks.
So, where did Mineral Resources turn to right the ship?
Yes, you guessed it.
Last month Mineral Resources announced Langer would take one of the recently vacated seats on the miner's ethics and governance committee.
But a few weeks later, newspaper reporters were seemingly forced to once again declare "shock" when Langer announced he would be leaving the miner to do more cricket.
I could go on about the game of musical chairs playing out at Mineral Resources' ethics and governance committee.
But I won't. The point has been made.
Foolish Takeaway
For investors, it's difficult to understate the importance of a stable and reliable leadership team.
As investors, we hand over our cash and place a great deal of trust in a company's leaders.
When actions or finances appear opaque, as investors, we must be particularly vigilant.
Yes, people and companies do make mistakes.
But when isolated incidents become tendencies or patterns, it could be time to act.
Langer said he's leaving Mineral Resources because he needs more time for cricket.
I reckon there's more to the story than that.
What Langer saw during his short stint as a member of the Mineral Resources' ethics and governance committee, I cannot say.
However, sitting on the sidelines, it's clear Mineral Resources is still a long way from resolving its leadership issues.
The ethics committee the company set up to restore its reputation has blown up into a public relations disaster.
And all those virtues Langer brought to Mineral Resources, they're heading out the door with him.
