CHIEF EXECUTIVE OFFICERS – AUSTRALIA – APPOINTMENTS AND RETIREMENTS

Next Qantas CEO stares down $12.3b fleet revamp

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Original article by Lucas Baird
The Australian Financial Review – Page: 1 & 18 : 3-May-23

The pressing need to upgrade an ageing fleet will be a key challenge for Qantas veteran Vanessa Hudson when she succeeds CEO Alan Joyce in November. However, she is confident that Qantas will be able to manage the capital requirements of a fleet upgrade while continuing to reward shareholders. UBS estimates that Qants will need to spend $12.3bn on new airplanes between the 2024 and 2028 fiscal years, given that the average age of its fleet increased from 7.7 years in 2014 to 13.6 in 2022. Qantas chairman Richard Goyder has praised Hudson, noting that she has been in her current role of CFO during one of the most challenging periods in the airline’s history.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN

Coles warns on price rises as shoppers grab home brands

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 13 & 18 : 22-Feb-23

Coles Group has advised that CEO Steven Cain will step down on 1 May after five years in the role. He will be succeeded by Leah Weckert, who will be the first woman to run a major supermarket chain in Australia. Coles has posted a 2022-23 interim net profit from continuing operations of $616m, which is 11.4 per cent higher than previously; revenue rose four per cent to $20.59bn. The company has indicated that price inflation rose to 7.7 per cent across its product range in the December quarter, up from 7.1 per cent in the September quarter. However, Cain expects inflation to moderate in the second half of the financial year. Weckert notes that many consumers are switching to home-brand grocery products amid the cost-of-living pressures.

CORPORATES
COLES GROUP LIMITED – ASX COL

New mining boss plots further evolution

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 4-Jan-23

Lawrie Conway has formally succeeded Jake Klein as MD of Evolution Mining, although the latter will remain at the gold miner in the role of executive chairman. Conway joined Evolution’s board in 2011, having previously worked for BHP and Newcrest Mining. He was appointed to the role of chief financial officer in 2014, and Evolution subsequently capitalised on a sharp downturn in the gold price to make a series of acquisitions that catapulted it into the ranks of mid-tier gold producers. Evolution’s internal growth plan will be Conway’s immediate priority; however, further acquisitions could also be on the agenda, as he expects global gold miners to divest some assets in coming years.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN,BHP GROUP LIMITED – ASX BHP,NEWCREST MINING LIMITED – ASX NCM

New chief confronts huge task at AMP

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Original article by Joyce Moullakis
The Weekend Australian – Page: 21 & 25 : 3-Apr-21

Analysts are generally positive about the appointment of Alexis George to succeed Francesco De Ferrari as CEO of embattled wealth manager AMP, but note the challenges that she will face. George is currently deputy CEO at the ANZ Bank, and will take up her new role in the September quarter. AMP’s shares have fallen more than 45 per cent since De Ferrari became CEO in December 2018. AMP is still in talks with Ares Management regarding the sale of its private markets division.

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ARES MANAGEMENT CORPORATION

The three most likely: Nine’s search for new CEO narrows

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Original article by Lilly Vitorovich, James Madden
The Australian – Page: 19 : 8-Feb-21

Nine Entertainment Company is widely tipped to appoint an internal candidate to succeed Hugh Marks as CEO. Oscar Oberg of Wilson Asset Management and Brian Han of Morningstar both expect either Nine’s head of publishing Chris Janz or Stan CEO Mike Sneesby to get the job. However, Carl Fennessy of Endemol Shine Australia is believed to be the leading external candidate to replace Marks, who has stepped down in the wake of revelations of his relationship with a junior executive.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WILSON ASSET MANAGEMENT, STAN ENTERTAINMENT PTY LTD, ENDEMOL SHINE AUSTRALIA PTY LTD

Cleanaway CEO Vik Bansal to step down

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Original article by Lachlan Moffet Gray, Eli Greenblat, John Durie
The Australian – Page: Online : 22-Jan-21

Shares in waste management company Cleanaway fell by as much as 10 per cent on 21 January after Vik Bansal announced he would be stepping down as CEO; they eventually closed down 8.5 per cent. Bansal had been the subject of significant scrutiny during the latter part of 2020 after it emerged he had been accused of improper behaviour towards staff. He will present Cleanaway’s interim results on 19 February and assist its board with the transition to a new CEO, while it is believed he has accepted an offer to head up Sanjeev Gupta’s InfraBuild Australian steel operations.

CORPORATES
CLEANAWAY WASTE MANAGEMENT LIMITED – ASX CWY

Woodside strategy queried as CEO flags exit

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 9-Dec-20

Woodside Petroleum will consider both internal and external candidates to succeed CEO Peter Coleman, who has advised that he will step down in the second half of 2021. Potential external candidates are said to include Santos CEO Kevin Gallagher and ex-Shell Australia chair Zoe Yujnovich, while Meg O’Neill is widely regarded as the leading internal contender. Some observers have raised concern that Woodside is slated to make a final investment decision on its Scarborough LNG project at around the same time that Coleman will leave the oil and gas group.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO

Holgate resigns over Cartier row

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Original article by Jared Lynch
The Australian – Page: 3 : 3-Nov-20

Outgoing Virgin Australia CEO Paul Scurrah is being tipped as a possible replacement for Christine Holgate, after Holgate resigned as Australia Post CEO with immediate effect on 2 November. Holgate’s resignation followed ongoing controversy after she recently told a Senate estimates committee that she had spent almost $20,000 on Cartier watches to reward four Australia Post executives who had secured a $66 million per annum deal with three of the big four banks in 2018. Holgate said she "deeply regretted" the purchase of the watches, conceding that for many that it did not "pass the pub test". Scurrah was on the Australia Post board for almost two years from July 2017, and will step down from Virgin when its sale to Bain Capital is completed at the end of November.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIA POST, BAIN CAPITAL LLC

Westpac chief Peter King eyes fast restart

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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

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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