EXECUTIVES – AUSTRALIA – APPOINTMENTS AND RETIREMENTS

Rio’s Harding departs in sweeping executive restructure

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Original article by James Thomson, Tess Ingram
The Australian Financial Review – Page: 15 : 22-Jun-16

Rio Tinto has advised that Chris Salisbury will replace Andrew Harding as the head of its iron ore division. Harding’s departure is part of a broader restructuring at Rio Tinto as it transitions to new CEO Jean-Sebastien Jacques. Joanne Farrell will become the MD of Rio Tinto’s Australian operations, as well as group executive for health, safety and environment. Arnaud Soirat will be CEO of copper and diamonds, and Alan Davies takes on the role of CEO of energy and minerals. Harding had been a candidate to succeed Sam Walsh as Rio Tinto CEO.

CORPORATES
RIO TINTO LIMITED – ASX RIO, PENGANA CAPITAL LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP

New Santos chief executive wields axe as senior execs go

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 22-Mar-16

Santos has appointed Vince Santostefano to the post of COO, while Angus Jaffray will become executive vice president for strategy and corporate services. Meanwhile, James Baulderstone will step down as vice president of corporate development. Santos’s vice president for Queensland, Trevor Brown, will also leave the group. Both had been seen as potential successors to ex-CEO David Knox. New CEO vice president Queensland has commenced a restructuring program.

CORPORATES
SANTOS LIMITED – ASX STO, WOODSIDE PETROLEUM LIMITED – ASX WPL, AZURE CONSULTING, THE BOSTON CONSULTING GROUP PTY LTD, CROWN CORK AND SEAL COMPANY

BHP cuts dividend 75pc; goes hunting for deals

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 19 : 24-Feb-16

BHP Billiton has abandoned its progressive dividend policy after posting a 2015-16 interim net loss of $US5.7bn. Underlying earnings were 92 per cent lower at $US412m. The half-year results were marred by write-downs associated with BHP’s oil and gas business, and a restructuring has resulted in the departure of the heads of its iron ore and petroleum divisions. Shareholders will receive an interim dividend of just $US0.16 per share, compared with $US0.62 previously.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ANGLO AMERICAN PLC, GLENCORE PLC, ARGO INVESTMENTS LIMITED – ASX ARG

Lend Lease bets big on urban renewal

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Original article by Turi Condon
The Australian – Page: 26 : 18-Feb-16

Lend Lease Group has posted a 2015-16 interim net profit of $A353.8m, which is 12 per cent higher than previously. The property developer’s residential pre-sales rose by 49 per cent to $A5.4bn, and funds under management increased by 26 per cent to $A22bn. CFO Tony Lombardo will succeed Rod Leaver as the CEO of Lend Lease’s Asian business, and Tarun Gupta will take on the role of CFO. Lend Lease shares rose by $A0.57 to $A12.84 on 17 February 2016.

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, MACQUARIE GROUP LIMITED – ASX MQG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Murdoch pays tribute as agenda-setting editor retires

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Original article by Darren Davidson
The Australian – Page: 2 : 3-Dec-15

The editor of Sydney’s "The Daily Telegraph", Paul Whittaker, will succeed Chris Mitchell as editor-in-chief of "The Australian". Mitchell has been in the role since 2002, after a previous three-year stint as editor of the national broadsheet. News Corporation’s co-chairman Rupert Murdoch, as well as News Corp Australia executive chairman Michael Miller and CEO Peter Tonagh, have praised Mitchell’s contribution to the media group’s flagship Australian newspaper.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, QUEENSLAND NEWSPAPERS PTY LTD

Loughnane’s exit the end for power trio

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Original article by James Massola
The Age – Page: 8 : 9-Oct-15

Brian Loughnane stepped down as federal director of the Liberal Party of Australia on 8 October 2015, after 12 years in the role. Loughnane, former prime minister Tony Abbott and the latter’s ex-chief of staff Peta Credlin – who is married to Loughnane – became a powerful team in Canberra. Under their stewardship, the Liberals came close to ousting the Australian Labor Party government in 2010, before taking office in 2013. However, conflict of interest allegations plagued Loughnane and Credlin as the Liberal Party floundered under Abbott’s leadership.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Top CFMEU official quits over IVF funding scandal

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 16-Sep-15

It has been revealed that Dave Hanna stepped down as national president of the Construction, Forestry, Mining & Energy Union after being linked to payments made by two subcontractors to finance IVF treatment for the partner of a union organiser. Hanna resigned in August 2015, and he is the subject of an investigation by the Royal Commission into Trade Union Governance & Corruption over an unrelated matter. He had cited health issues as the reason for his resignation.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, DB SCAFFOLDING AND RIGGING AUSTRALIA PTY LTD, GLOBAL HR PTY LTD, BUILDERS’ LABOURERS’ FEDERATION CHARITY FOUNDATION

7-Eleven founder resigns from AOC

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Original article by Adele Ferguson, Sarah Danckert
The Australian Financial Review – Page: 11 : 10-Sep-15

The wages scandal at 7-Eleven Stores has prompted chairman and founder Russell Withers to step down from the Australian Olympic Committee (AOC) board. Withers had been on the AOC board since 2001. Meanwhile, 7-Eleven board member Michael Smith has stood down as the chairman of the Australian Institute of Company Directors while the convenience store chain undertakes an investigation into the affair.

CORPORATES
7-ELEVEN STORES PTY LTD, AUSTRALIAN OLYMPIC COMMITTEE, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, INTERNATIONAL OLYMPIC COMMITTEE, AUSTRALIAN BROADCASTING CORPORATION, FAIRFAX MEDIA LIMITED – ASX FXJ

Westpac nabs CBA’s Cobley for top role

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Original article by James Chessell, Sarah Thompson, James Eyers
The Australian Financial Review – Page: 18 : 27-May-15

Westpac has announced that Lyn Cobley will succeed Rob Whitfield as the head of its institutional banking division. Cobley is currently the head of retail products and third-party banking at the Commonwealth Bank of Australia (CBA). She had previously worked for groups such as Barclays Capital and Citigroup, and was regarded as a potential successor to CBA CEO Ian Narev. Whitfield will step down on 10 July 2015, after nearly three decades at Westpac.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BARCLAYS CAPITAL SECURITIES LIMITED, CITIGROUP PTY LTD, ERNST AND YOUNG, TRADINGROOM PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, FAIRFAX MEDIA LIMITED – ASX FXJ, WESTPAC INSTITUTIONAL BANK, ST GEORGE BANK LIMITED

Westpac institutional banking head Rob Whitfield leaving

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Original article by James Chessell, Sarah Thompson
The Australian Financial Review – Page: 15 : 26-May-15

Westpac may appoint an external candidate to succeed the group’s head of institutional banking, Rob Whitfield, who is widely tipped to stand down. Whitfield has been in the role since 2007 and has been at Westpac since 1986. He had been in the running to succeed Gail Kelly as CEO earlier in 2015. Internal candidates to replace him are said to include Anthony Masciantonio, Rachel Slade and Terry Winder.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, WESTPAC INSTITUTIONAL BANK, ST GEORGE BANK LIMITED, LLOYDS BANKING GROUP PLC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ROYAL BANK OF SCOTLAND GROUP PLC, BANK OF QUEENSLAND LIMITED – ASX BOQ, PETER LEE ASSOCIATES PTY LTD, BT FINANCIAL GROUP PTY LTD