M69 Professional Scientific and Technical Services

Directorships now a risky business

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Original article by James Frost
The Australian Financial Review – Page: 4 : 4-Jan-19

Business executives say there is a growing reluctance to take on board seats due to heightened financial and reputational risk in the wake of corporate scandals and revelations of misconduct in the financial services sector. CSL non-executive director Christine O’Reilly says personal liability has become a key concern for many company directors. She stresses the importance of undertaking due diligence on a company before accepting a directorship. Hugh Morgan notes that a director’s reputation can be tainted by a scandal of which they were not aware.

CORPORATES
CSL LIMITED – ASX CSL, WESTERN MINING CORPORATION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, RESERVE BANK OF AUSTRALIA, TRANSURBAN GROUP LIMITED – ASX TCL, MEDIBANK PRIVATE LIMITED – ASX MPL, STOCKLAND – ASX SGP, ENERGYAUSTRALIA PTY LTD, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, AMP LIMITED – ASX AMP, SORRENTO SAILING CLUB

Directors back tougher corporate penalties

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Original article by Sally Patten
The Australian Financial Review – Page: 10 : 25-Oct-18

Rising global protectionism has been identified as the biggest economic challenge facing local companies, according to a new survey by the Australian Institute of Company Directors. The bi-annual sentiment survey also shows that long-term growth prospects is the key issue that keeps directors awake at night. Meanwhile, more than 80 per cent of respondents have expressed support for the federal government’s push to increase the criminal and civil penalties for misconduct in the corporate sector.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AUSTRALIA. DEPT OF THE TREASURY, FISHBURNERS LIMITED, SIRTEX MEDICAL LIMITED – ASX SRX

Roy Morgan releases 2018 pre-tax profit of $1.8 million (EBITDA $3.2m)

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Original article by Michele Levine, CEO, Roy Morgan Research
Market Research Update – Page: Online : 19-Oct-18

Financial Year 2018 for Roy Morgan was one of transformation and new opportunities for Roy Morgan’s staff, clients and partners. The full year pre-tax profit of $1.8m (EDITDA $3.2m) was below the previous pre-tax profit of $5.1m (EBITDA $6.1m), reflecting the ongoing world-wide structural changes in the information and market research industry. The above results include Roy Morgan’s small profits in the UK & USA, and small losses in New Zealand & Indonesia. In Indonesia Roy Morgan invested in new products including "Helix Personas for Indonesia" which should grow revenue streams in the coming years. Roy Morgan is well placed for the Financial Year 2019 with a first Quarter unaudited pre-tax profit of $988,000 (EBITDA $1.45m). Roy Morgan’s latest pre-tax profits are after continued investment in the critical R&D and innovation that is the future. In the year ahead Roy Morgan will continue to focus on providing accurate information to those people in businesses, companies or institutions who believe this is essential for a democracy to survive. Click here to view the full report

CORPORATES
ROY MORGAN LIMITED

One in three execs plan to die on the job

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Original article by Patrick Durkin
The Australian Financial Review – Page: 34 : 4-Jul-17

A survey by recruitment firm Watermark of more than 500 executives over the age of 50 has found that almost a third do not intend to stop working. Ron Gauci, who is 58 and has undertaken a number of interim CEO roles in recent years says that temporary roles typically become available without much notice, so being able to adapt to new situations is important. Jacinta Whelan of Watermark says that 30 per cent of Australia’s workforce is expected to be contingent by 2018.

CORPORATES
WATERMARK SEARCH INTERNATIONAL, MELBOURNE STORM RUGBY LEAGUE CLUB LIMITED, CABCHARGE AUSTRALIA LIMITED – ASX CAB, FEDERATION SQUARE MANAGEMENT PTY LTD, NORTHERN MELBOURNE INSTITUTE OF TECHNICAL AND FURTHER EDUCATION

Boards ‘not tough enough’ to tackle complex pay packages

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Original article by Damon Kitney
The Australian – Page: 23 : 5-May-17

Australian company boards have been urged to adopt a tougher approach when it comes to dealing with executive remuneration. Paula Dwyer, the chair of both Tabcorp and Healthscope, has told the Australian Council of Superannuation Investors conference that the general public expects directors to hold their executives to account when it comes to meeting pay targets, while she noted that some executive pay packages are excessively complex. Both Dwyer and Aurizon chairman Tim Poole agreed that Australian boards are too risk-adverse.

CORPORATES
TABCORP HOLDINGS LIMITED – ASX TAH, HEALTHSCOPE LIMITED – ASX HSO, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AURIZON HOLDINGS LIMITED – ASX AZJ, SCENTRE GROUP – ASX SCG, AUSTRALIA POST, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, OZ MINERALS LIMITED – ASX OZL

The Great Wall dividing Chinese- and Australian-made products

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 27-Jan-17

A Roy Morgan Single Source survey has found that 89% of Australians aged 14+ say they are more likely to buy a product if it is made in Australia. In contrast, only 30% report being more likely to buy items manufactured in China, and 48% are less likely to buy such products. The survey, which was carried out in the year to September 2016, also shows that 89% of Australians are more likely to purchase locally grown/processed food, compared with just 5% who would buy food originating in China. Concern about country of manufacture varies somewhat between age groups, with teenagers aged between 14 and 17 showing the most divergence from the average: 37% are open to Chinese-made products overall, while 82% say they are more likely to purchase those made in Australia.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Standing up to be counted: 50 proud LGBTI executives

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Original article by Edmund Tadros, Patrick Durkin, Joanne Gray
The Australian Financial Review – Page: 1 & 13 : 2-Dec-16

Deloitte has compiled a list of prominent executives who belong to the LGBTI (lesbian, gay, bisexual, transgender and intersex) category. The list of 50 LGBTI business leaders will appear in "The Australian Financial Review BOSS" magazine. It includes Optus SingTel chairman Paul O’Sullivan, Business Council of Australia CEO Jennifer Westacott, Qantas CEO Alan Joyce and Partners in Performance CEO Skipp Williamson.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN, PARTNERS IN PERFORMANCE PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, SINGTEL OPTUS PTY LTD

Spending, tax cuts to buoy firms with US exposure

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Original article by Damon Kitney, Andrew White, Eli Greenblat, Matt Chambers
The Australian – Page: 21 & 26 : 11-Nov-16

Australian-listed companies with a significant presence in the US do not expect the election of Donald Trump as president to have much impact on their business. Brambles CEO Tom Gorman is upbeat about the logistics group’s outlook, noting that its US customers are primarily in sectors that are not affected by political and economic cycles. Orora CEO Nigel Garrard says the packaging group is optimistic about the economic impact of Trump’s policies on corporate tax cuts and infrastructure spending.

CORPORATES
BRAMBLES LIMITED – ASX BXB, ORORA LIMITED – ASX ORA, TREASURY WINE ESTATES LIMITED – ASX TWE, BLUESCOPE STEEL LIMITED – ASX BSL, FORTESCUE METALS GROUP LIMITED – ASX FMG, EVANS AND PARTNERS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, SYDNEY AIRPORT – ASX SYD, TRANSURBAN GROUP LIMITED – ASX TCL, WESTFIELD CORPORATION – ASX WFD, BERINGER WINE ESTATES HOLDINGS INCORPORATED, DIAGEO PLC, NORTH STAR STEEL, PRATT INDUSTRIES (USA) INCORPORATED, OAKTREE CAPITAL MANAGEMENT LLC

‘Thoughtful’ King answers BCA call

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Original article by Patrick Durkin
The Australian Financial Review – Page: 5 : 8-Nov-16

Former Origin Energy CEO Grant King will succeed Catherine Livingstone as president of the Business Council of Australia. Origin’s ex-finance director Karen Moses has praised King’s appointment and says he is well-suited to his new role as head of the lobby group. King recently stepped down as Origin CEO after more than two decades at the company.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, ORIGIN ENERGY LIMITED – ASX ORG, BORAL LIMITED – ASX BLD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESFARMERS LIMITED – ASX WES, CHARTER HALL GROUP – ASX CHC, SANTOS LIMITED – ASX STO, AGL ENERGY LIMITED – ASX AGL, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA PACIFIC LNG LIMITED, AUSTRALIAN LABOR PARTY

Workers clocking off mentally, study claims

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Original article by Lucille Keen
The Australian Financial Review – Page: 11 : 15-Jul-16

Many Australian employees are mentally detached from their work. Recruitment firm Robert Half conducted a study of 300 CFOs and finance directors which shows that 49 per cent of small to medium businesses detected “inner resignation” among employees. Large organisations reported up to 54 per cent of workers being in this category. Robert Half Asia Pacific senior MD David Jones advises companies to take steps to re-engage workers, as poor morale has a negative impact on productivity.

CORPORATES
ROBERT HALF AUSTRALIA PTY LTD, STANFORD UNIVERSITY, AUSTRALIAN HUMAN RESOURCES INSTITUTE, ERNST AND YOUNG, GALLUP INTERNATIONAL