EXECUTIVE SUCCESSION – AUSTRALIA

Coates plans board shake-up at Santos

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Original article by Damon Kitney, Matt Chambers
The Australian – Page: 17 & 18 : 15-Feb-16

Oil and gas producer Santos has indicated that its 2015 financial results could include write-downs of up to $A3bn. Meanwhile, chairman Peter Coates has stressed the need for board renewal, noting that some directors have been on the board for a long time. However, he says there are no plans for further board changes in 2016, although there has been speculation that several could step down before the end of the year. Coates has also identified recruiting his eventual successor as a priority.

CORPORATES
SANTOS LIMITED – ASX STO, AGL ENERGY LIMITED – ASX AGL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SCHLUMBERGER LIMITED, ASX LIMITED – ASX ASX, BLUESCOPE STEEL LIMITED – ASX BSL, ENERGYAUSTRALIA PTY LTD, COCHLEAR LIMITED – ASX COH, DEUTSCHE BANK AG, CGI GLASS LEWIS PTY LTD, STANDARD AND POOR’S CORPORATION, ORIGIN ENERGY LIMITED – ASX ORG, CONOCOPHILLIPS

Woolworths struggles to hire CEO

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Original article by Michael Smith
The Australian Financial Review – Page: 1 : 22-Jan-16

An overseas candidate is likely to succeed Woolworths CEO Grant O’Brien, after no local executives expressed interest in the role. Woolworths is believed to have identified about five potential candidates from the UK, Europe and North America. Chairman Gordon Cairns had originally indicated that he aimed to install a new CEO by March 2016, but he has conceded that the selection process may take longer as overseas candidates are being interviewed in person rather than by video link.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD

New Dick Smith CEO hopes to find a buyer

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Original article by Patrick Hatch
The Australian Financial Review – Page: 13 & 18 : 13-Jan-16

Receiver Ferrier Hodgson has received more than 40 expressions of interest in buying failed consumer electronics retailer Dick Smith. Meanwhile, Don Grover has been appointed as interim CEO following the resignation of Nick Abboud. He had the led the company since its acquisition by Anchorage Capital Partners in 2012. The slump in Dick Smith’s share price prior to its collapse had reduced the value of Abboud’s shareholding by almost $A30m.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, FERRIER HODGSON AND COMPANY, FUSION RETAIL BRANDS PTY LTD, JB HI-FI LIMITED – ASX JBH, DIANA FERRARI (AUSTRALIA) PTY LTD, WILLIAMS SHOES, MATHERS SHOES PTY LTD, COLORADO GROUP LIMITED, FORAGER FUNDS MANAGEMENT PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, OWNERSHIP MATTERS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, McGRATH NICOL AND PARTNERS SERVICES PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

Rio to consider Walsh’s successor

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Original article by James Chessell
The Australian Financial Review – Page: 40 : 11-Jan-16

The head of Rio Tinto’s iron ore division, Andrew Harding, is seen as the leading candidate to succeed CEO Sam Walsh. The latter himself headed the iron ore division before being elevated to the top job after Tom Albanese resigned in 2011 in the wake of several massive write-downs. Walsh recently indicated that Rio’s board favours appointing an internal candidate to succeed him. Succession planning will be a key priority for Rio chairman Jan de Plessis, who will want to conclude this process several years before he stands down.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ALCAN INCORPORATED, RIVERSDALE MINING LIMITED, BHP BILLITON LIMITED – ASX BHP, VALE SA, GLENCORE PLC, FORTESCUE METALS GROUP LIMITED – ASX FMG, BANK OF AMERICA CORPORATION, ANGLO AMERICAN PLC, SABMILLER PLC, ANHEUSER-BUSCH INBEV SA/NV, GM HOLDEN LIMITED, NISSAN MOTOR COMPANY (AUSTRALIA) PTY LTD

Scott’s media skills ‘crucial’

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Original article by Michael Bodey
The Australian – Page: 3 : 23-Dec-15

Media and journalism experience was given a relatively low priority in the selection criteria for the successor to ABC MD Mark Scott. However, former members of the public broadcaster’s board have said that Scott’s editorial experience at Fairfax Media had been a key factor in the decision to appoint him to the role in 2006. Scott will step down in May 2016.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FAIRFAX MEDIA LIMITED – ASX FXJ, NEW SOUTH WALES. STATE RAIL AUTHORITY

ABC ups pay to lure Google exec as managing director

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Original article by Dominic White
The Australian Financial Review – Page: 10 : 16-Dec-15

The ABC has declined to comment on reports that Michelle Guthrie will succeed MD Mark Scott. Guthrie is currently Google’s MD of agency relationships for the Asia-Pacific region, and is based in Singapore. She has extensive experience in the Australian and international media industry, including roles at Foxtel, BSkyB and Hong Kong-based Star TV. It is believed that Guthrie will be paid an annual salary of about $A1m, compared with Scott’s remuneration of $A823,613 in 2013-14.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, GOOGLE INCORPORATED, FOXTEL MANAGEMENT PTY LTD, BSKYB, STAR TV, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. REMUNERATION TRIBUNAL, PROVIDENCE EQUITY PARTNERS INCORPORATED, ALLENS

UK executive tipped to lead ABC

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Original article by Darren Davidson
The Australian – Page: 1 & 6 : 10-Dec-15

The former controller of BBC One, Jay Hunt, has downplayed reports that she is a leading candidate to succeed Mark Scott as MD of the ABC. Hunt has been the chief creative officer at the UK’s Channel 4 since 2010, and says she has no immediate plans to leave the public broadcaster. ABC chairman Jim Spigelman is believed to favour Kim Williams as the new MD, although some ABC directors have reservations about appointing Williams to the role.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, BRITISH BROADCASTING CORPORATION, CHANNEL 4 TELEVISION, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SCREEN AUSTRALIA, EGON ZEHNDER INTERNATIONAL, BRIGHTSPARK TV, CAMBRIDGE UNIVERSITY

Woolies taps Best & Less boss for seat

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 22 : 17-Nov-15

Australian-listed retailer Woolworths is believed to have invited Holly Kramer to become a non-executive director. Kramer is on the boards of AMP and Nine Entertainment Company, having stepped down as CEO of discount department store group Best & Less in May 2015. Woolworths is seeking to appoint three directors to replace Ian MacFarlane, Christine Cross and David Mackay. It has also yet to appoint a successor to CEO Grant O’Brien, who may remain at the helm until his replacement is appointed.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, BEST AND LESS PTY LTD, AMP LIMITED – ASX AMP, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIG W DISCOUNT STORES, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, TESCO PLC, KELLOGG (AUSTRALIA) PTY LTD, RESERVE BANK OF AUSTRALIA, YALE UNIVERSITY, GEORGETOWN UNIVERSITY, FORD MOTOR COMPANY AUSTRALIA LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, PACIFIC BRANDS LIMITED – ASX PBG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CGI GLASS LEWIS PTY LTD

Nine CEO puts innovation top of must-do list

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Original article by Dominic White
The Australian Financial Review – Page: 15 & 20 : 10-Nov-15

David Gyngell will remain on the board of Nine Entertainment Company after stepping down as CEO. Gyngell. His successor, Hugh Marks, has told Nine’s staff that producing "engaging, relevant content" will remain the media group’s priority, but has stressed the need for Nine to continue to innovate. Issues such as the prospect of cross-media ownership reforms and growing competition from digital media groups will be among his initial challenges.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NETFLIX INCORPORATED, RGM ARTISTS PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, MEDIA VENTURE PARTNERS PTY LTD, SOUTHERN STAR CORPORATION, NINE FILMS AND TELEVISION PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Lynch in box seat for CFO at Seven

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Original article by Jake Mitchell
The Australian – Page: 21 : 4-Nov-15

Australian-listed Seven West Media is shortly expected to announce a successor to former CFO Dave Boorman, who stepped down in early 2015. Warwick Lynch has been acting CFO, and he is believed to be the leading candidate to take on the role permanently. Lynch was also acting CFO prior to Boorman’s appointment in mid-2013. Boorman recently became the CFO at Ten Network.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PEOPLE ONE PTY LTD, SEVEN GROUP HOLDINGS LIMITED – ASX SVW