EXECUTIVE SUCCESSION – AUSTRALIA

IAG’s Wilkins here to stay but has insurance

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Original article by Ruth Liew
The Australian Financial Review – Page: 21 & 24 : 19-Feb-15

Insurance Australia Group has reported a 2014-15 interim net profit of $A579m, which is 10 per cent lower than previously. There was a 17.1 per cent increase in gross written premium, to $A5.6bn, while the group’s underlying margin for the half-year was 13.3 per cent. Shareholders will receive an interim dividend of $A0.13 per share. CEO Mike Wilkins has ruled out standing down in the near-term, but stresses that the group has a number of potential internal successors

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, NRMA LIMITED, CGU INSURANCE AUSTRALIA LIMITED, SUNCORP GROUP LIMITED – ASX SUN, WESFARMERS LIMITED – ASX WES, NIKKO ASSET MANAGEMENT GROUP, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CREDIT SUISSE (AUSTRALIA) LIMITED

Sutton to take helm at BoQ

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Original article by Tony Boyd, Ruth Liew, Sarah Thompson
The Australian Financial Review – Page: 1 & 4 : 5-Jan-15

Sources at the Bank of Queensland (BoQ) have indicated that Jon Sutton will become the permanent successor to former CEO Stuart Grimshaw. Sutton has been acting CEO since August 2014, and joined BoQ in July 2012. His previous roles have included the MD of Bankwest and the executive GM of Commonwealth Bank Agribusiness. BoQ increased its cash profit by 20 per cent in fiscal 2014, to $A301.2m. Its share price has gained around 60 per cent over the last two years

CORPORATES
BANK OF QUEENSLAND LIMITED – ASX BOQ, BANK OF WESTERN AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SUNCORP GROUP LIMITED – ASX SUN, ST GEORGE BANK LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, EZCORP INCORPORATED, VIRGIN MONEY (AUSTRALIA) PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, INVESTEC BANK (AUSTRALIA) LIMITED

CBA shuffles executive ranks

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Original article by Michael Bennet
The Australian – Page: 23 : 2-Dec-14

The successor to Grahame Petersen as group executive for business and private banking at Commonwealth Bank of Australia (CBA) has been announced. Adam Bennett joined CBA in 2004 from consultancy AT Kearney to work in the IT division, and served as CIO during the core banking system overhaul that experts say has allowed CBA to become the leader in the use of banking technology solutions. The business banking unit is the second largest at CBA after retail banking

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AT KEARNEY AUSTRALIA PTY LTD, DEUTSCHE BANK AG, MACQUARIE GROUP LIMITED – ASX MQG

End of an era for Primary Health Care as founder ‘Dr Ed’ Bateman retires

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Original article by Damon Kitney
The Australian – Page: 19 : 25-Nov-14

The 2014 AGM of Primary Health Care will hear that founder and MD Edmund Bateman is planning to retire soon, due to ill health. The medical centres as well as pathology and radiology services operator has engaged Sheldon Harris Management Consulting to identify a successor, and among the internal frontrunners are sons Henry and James Bateman. Their father has been at the helm for some three decades, and suffered his main setback when the acquisition of rival Symbion coincided with the start of the global financial crisis in 2008

CORPORATES
PRIMARY HEALTH CARE LIMITED – ASX PRY, SYMBION HEALTH LIMITED, AUSBIL DEXIA LIMITED, UBS HOLDINGS PTY LTD, LIBERAL PARTY OF AUSTRALIA, SWIMMING AUSTRALIA, SHELDON-HARRIS PTY LTD, RUSSELL REYNOLDS ASSOCIATES INCORPORATED, SPENCER STUART AND ASSOCIATES

American import to steer AGL through times of change

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 & 26 : 19-Nov-14

AGL Energy CEO Michael Fraser will be succeeded by Andrew Vesey in February 2015. Vesey will receive a fixed salary of $A1.9m a year, plus short- and long-term incentives. US-born Vesey is currently the COO of AES Corporation, and has previously been CEO of Australian electricity network company CitiPower. AGL chairman Jeremy Maycock says there are unlikely to be significant changes to the energy group’s executive ranks under the new CEO

CORPORATES
AGL ENERGY LIMITED – ASX AGK, AES CORPORATION, CITIPOWER LIMITED, ERNST AND YOUNG, MACQUARIE GENERATION, UBS HOLDINGS PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD