Westpac chief Peter King eyes fast restart

Original article by James Frost
The Australian Financial Review – Page: 1 & 20 : 3-Apr-20

Westpac has appointed Peter King as CEO for the next two years. King, who has been acting CEO since September, says 22,000 of Westpac’s 33,000 employees are now working from home in response to the coronavirus; typically it is around 1,000. Westpac has had 100,000 requests for assistance from customers and 26,000 requests for help from small businesses since the banking sector launched its response to the virus. King says Westpac will looking at businesses that can recover quickly once the worst of COVID-19 is over in terms of the ones it decides to assist.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC

Anderson bows out of Ten amid ViacomCBS revamp

Original article by Lilly Vitorovich
The Australian – Page: 19 : 12-Mar-20

US media giant ViacomCBS has advised that it will not replace Ten Network CEO Paul Anderson following his sudden resignation. It will instead appoint co-leads for the free-to-air network. A management restructuring will also result in Ten’s chief content officer Beverley McGarvey being promoted to the same role across ViacomCBS’s operations in Australia and New Zealand. Meanwhile, KordaMentha partner Henriette Rothschild has been appointed as ViacomCBS’s interim chief transformation officer.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, VIACOMCBS INCORPORATED

Early exit for BHP’s Mackenzie

Original article by Nick Evans
The Australian – Page: 14 : 24-Dec-19

BHP’s outgoing CEO Andrew Mackenzie had previously advised that he will leave the resources giant on 30 June. However, he says the transition to new CEO Mike Henry is ahead of schedule, so he will now depart on 31 March. BHP has advised that Mackenzie will not receive any severance pay or a payment in lieu of notice. Henry, who formally takes the helm on 1 January, is expected to make changes to BHP’s executive leadership team.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Dump directors or we’ll oust the lot, Westpac told

Original article by Michael Roddan, Andrew White
The Australian – Page: 1 & 4 : 27-Nov-19

Westpac chairman Lindsay Maxsted has indicated that he will have no role in the global search for a successor to CEO Brian Hartzer. CFO Peter King will become acting CEO following Hartzer’s resignation over the Austrac scandal, while Maxsted himself intends to bring forward his retirement to the first half of 2020. Meanwhile, Westpac may face a board spill at its upcoming annual meeting, with institutional investors demanding that more directors and executives be held accountable for the scandal. Hartzer will receive a $2.7m payout, although he will forgo short-term and long-term bonuses worth up to $22m.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIANSUPER PTY LTD, UNISUPER LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, STANDARD AND POOR’S FINANCIAL SERVICES LLC

Westpac must start hunt for a new CEO

Original article by Terry McCrann
Herald Sun – Page: 35 : 21-Nov-19

It is inevitable that Westpac CEO Brian Hartzer will have to step down in the wake of the banking sector’s latest money laundering scandal. This will leave ANZ’s Shayne Elliott as the only CEO of a big four bank who was appointed prior to the Hayne royal commission. The only issue for Westpac’s board is whether to opt for an internal or external successor. Meanwhile, questions need to be asked about the failure of Austrac to ensure that Westpac and the Commonwealth Bank were complying with anti-money laundering laws.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

BHP succession once again in the spotlight

Original article by Nick Evans
The Australian – Page: 20 : 7-Nov-19

BHP CEO Andrew Mackenzie took the helm in May 2013, with his appointment having been announced at the resources giant’s half-year results presentation in February of that year. The position of former CEO Marius Kloppers had already come under scrutiny at BHP’s 2012 annual meeting in Australia; given Mackenzie’s tenure, shareholders at the 2019 annual meeting may be seeking guidance on succession planning. However, Mackenzie’s position is much more secure than Kloppers’ was in 2012.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Oil Search taps Wulff as legend Botten retires

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 16 & 22 : 2-Oct-19

Oil Search’s incoming CEO Keiran Wulff has downplayed suggestions that the Papua New Guinea-focused LNG producer may become a takeover target after Peter Botten steps down. Wulff says that succession planning has been in the works for some time, given that Botten has been at the helm for 25 years. Wulff, who currently heads Oil Search’s operations in Alaska, will succeed Botten in February. However, Botten will remain at Oil Search until August to ensure a smooth transition.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, CREDIT SUISSE (AUSTRALIA) LIMITED, RBC CAPITAL MARKETS, ALLAN GRAY AUSTRALIA PTY LTD, EXXONMOBIL CORPORATION

CEO turnover soars in Hayne wake

Original article by Patrick Durkin
The Australian Financial Review – Page: 2 : 23-Sep-19

Recruitment firm Robert Half has reported that 22 per cent of S&P/ASX 200 CEOs are new from the previous year, up from 20 per cent in 2018. The number of external hires of ASX 200 CEOs has increased, as has the number of CEOs with a background in technology. Just six per cent of ASX 200 CEOs are women, down one per cent, while 14 per cent of ASX 200 CEOs do not hold a diploma or degree.

CORPORATES
ROBERT HALF AUSTRALIA PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, AGL ENERGY LIMITED – ASX AGL, AFTERPAY TOUCH GROUP LIMITED – ASX APT, COMPUTERSHARE LIMITED – ASX CPU, SUNCORP GROUP LIMITED – ASX SUN, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, ARISTOCRAT LEISURE LIMITED – ASX ALL, GOODMAN GROUP – ASX GMG, GPT GROUP – ASX GPT

Search narrows for new NAB boss

Original article by Joyce Moullakis
The Australian – Page: 21 : 19-Jun-19

National Australia Bank has declined to comment on progress regarding its search for a successor to former CEO Andrew Thorburn. However, sources have indicated that the shortlist of candidates has been trimmed and NAB has commenced a detailed assessment of internal candidates, who include Mike Baird and Anthony Healy. Thorburn stepped down in the wake of the Hayne royal commission, while NAB chairman Ken Henry will depart when a new CEO is appointed.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, RUSSELL REYNOLDS ASSOCIATES INCORPORATED, MEDIBANK PRIVATE LIMITED – ASX MPL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, ROYAL BANK OF SCOTLAND GROUP PLC, BANK OF IRELAND PLC, MACQUARIE GROUP LIMITED – ASX MQG, AMP LIMITED – ASX AMP

Ita Buttrose names David Anderson as managing director of the ABC

Original article by
abc.net.au – Page: Online : 3-May-19

ABC chair Ita Buttrose announced on 3 May that David Anderson had been appointed as its MD. Anderson had been acting in the role since September, following the sacking of Michelle Guthrie. Buttrose said that the ABC board was unanimous in its choice of Anderson, with his appointment having followed an extensive local and national search. Anderson, who has been with the ABC for almost three decades, said it was "a privilege to be appointed to the role". His appointment is for five years.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION