EXECUTIVE SUCCESSION – AUSTRALIA

Sydney Airport pins hopes on Chinese

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 17 : 15-May-15

Trevor Gerber succeeded Max Moore-Wilton as chairman of Sydney Airport on 14 May 2015. Meanwhile, CEO Kerrie Mather has forecast a big rise in Chinese visitors in coming years, citing factors such as increased flights between Australia and China, the free-trade deal between the two nations and the relaxation of visa requirements for Chinese travellers. Sydney Airport also plans to revamp its international terminal’s duty-free facilities.

CORPORATES
SYDNEY AIRPORT – ASX SYD, GEBR HEINEMANN SE & CO KG, THE NUANCE GROUP (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH

Wesfarmers’ Chaney looks to long-term gains

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 20 : 12-May-15

Wesfarmers has downplayed concerns about the appropriateness of its decision to appoint former MD Michael Chaney to the post of chairman. Chaney himself says Wesfarmers has changed significantly since he stepped down in 2007. He adds that a priority will be to look after the interests of long-term shareholders rather than hedge funds and investors who are short-term stockholders. Chaney will succeed Bob Every in November 2015.

CORPORATES
WESFARMERS LIMITED – ASX WES, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COLES GROUP LIMITED, BUNNINGS GROUP LIMITED, KMART AUSTRALIA LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, OWNERSHIP MATTERS PTY LTD

Southern Cross wants CEO ready for deals

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Original article by Dominic White
The Australian Financial Review – Page: 15 & 20 : 12-May-15

Heidrick & Struggles has been hired to find a successor to Southern Cross Media Group CEO Rhys Holleran, who will step down on 31 July 2015. Non-executive chairman Peter Bush will take up the role of executive chairman until Holleran’s replacement is appointed. Bush says priorities for the new CEO will include reversing a downturn in revenue and preparing the group for potential cross-media ownership reforms.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, HEIDRICK AND STRUGGLES AUSTRALIA LIMITED, APN NEWS AND MEDIA LIMITED – ASX APN, AUSTRALIAN RADIO NETWORK PTY LTD, NEWS CORP AUSTRALIA PTY LTD, 2DAY FM AUSTRALIA PTY LTD, KIIS1065, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN LABOR PARTY, NETFLIX INCORPORATED, GOOGLE INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG

Coca-Cola Amatil appoints Woolies exec as CFO

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 26-Mar-15

Australian-listed Coca-Cola Amatil (CCA) has advised that Martyn Roberts will replace Nessa O’Sullivan as CFO later in 2015. Roberts has held several executive positions at Woolworths during his seven-year tenure at the retailer, and has previously worked for companies such as Louis Vuitton and Apparel Group. There have been a number of management changes at CCA under current CEO Alison Watkins

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, WOOLWORTHS LIMITED – ASX WOW, APPAREL GROUP PTY LTD, LOUIS VUITTON, THE COCA-COLA COMPANY, SPC ARDMONA LIMITED, RECKITT BENCKISER (AUSTRALIA) PTY LTD

Coca-Cola Amatil appoints Woolies exec as CFO

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 26-Mar-15

Australian-listed Coca-Cola Amatil (CCA) has advised that Martyn Roberts will replace Nessa O’Sullivan as CFO later in 2015. Roberts has held several executive positions at Woolworths during his seven-year tenure at the retailer, and has previously worked for companies such as Louis Vuitton and Apparel Group. There have been a number of management changes at CCA under current CEO Alison Watkins

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, WOOLWORTHS LIMITED – ASX WOW, APPAREL GROUP PTY LTD, LOUIS VUITTON, THE COCA-COLA COMPANY, SPC ARDMONA LIMITED, RECKITT BENCKISER (AUSTRALIA) PTY LTD

Ex-BHP ace steps into Orica role

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 & 20 : 24-Mar-15

Australian-listed explosives group Orica has appointed Alberto Calderon as interim CEO, although chairman Russell Caplan has declined to comment on whether he will be a contender to take on the role permanently. Outgoing CEO Ian Smith was originally slated to remain at the helm during a search for a successor, but the Orica board decided that this was not appropriate. Smith’s management style had attracted some criticism at Orica

CORPORATES
ORICA LIMITED – ASX ORI, BHP BILLITON LIMITED – ASX BHP, NEWCREST MINING LIMITED – ASX NCM

Ex-Orica CEO admits he can be ‘aggressive’

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Original article by Tim Binsted
The Australian Financial Review – Page: 19 & 24 : 19-Mar-15

Shares in explosives group Orica closed 5.3 per cent lower at $A18.20 on 18 March 2015, in response to the imminent departure of CEO Ian Smith. He will remain in the role until Orica concludes an international search for his successor. Smith concedes that his management style had sometimes caused conflict with other Orica executive, but stresses that he had been working hard to change for the better. Chairman Russell Caplan says the group will continue to pursue its current strategy

CORPORATES
ORICA LIMITED – ASX ORI, THE BLACKSTONE GROUP LP, BHP BILLITON LIMITED – ASX BHP

Myer’s new British CEO gets a tough welcome from investors

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Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 11 : 3-Mar-15

Shares in Myer Holdings shed 11 per cent to close at $A1.1655 on 2 March 2015 following the resignation of CEO Bernie Brookes. He will be succeeded by former Woolworths executive Richard Umbers, while Daniel Bracken has been appointed deputy CEO. Umbers was previously Myers’ chief information and supply chain officer. He says the new management team will adopt a customer-centric focus and look at the type of customers Myer has now and people who are likely to be customers in the future. Myer CFO Mark Ashby has also resigned

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, AUSTRALIA POST, CITIGROUP PTY LTD, TPG CAPITAL LP, DAVID JONES LIMITED, EZCORP INCORPORATED, ZARA, TOP SHOP, UNIQLO COMPANY LIMITED, SEPHORA USA LLC, HENNES OCH MAURITZ AB, MORGAN STANLEY AUSTRALIA LIMITED, DEBENHAMS RETAIL PLC

Telstra reshuffle likely as Thodey departs

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Original article by David Ramli
The Australian Financial Review – Page: 15 : 23-Feb-15

Analysts have suggested that senior executives at Telstra could leave the telco after being overlooked as the successor to CEO David Thodey. CFO Andy Penn will replace Thodey on 1 May 2015, but the telco has a number of senior executive who have the potential to be CEO, and there is speculation that some may leave to pursue CEO roles elsewhere. Meanwhile, Cynthia Whelan and Mark Hall are regarded as the most likely internal candidates to replace Penn as CFO

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT

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