Red card for postal boss

Original article by Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 23-Oct-20

Australia Post CEO Christine Holgate will stand aside pending the outcome of an investigation into revelations that four senior executives were rewarded with luxury watches. Prime Minister Scott Morrison has ordered the independent review after Holgate told a Senate estimates committee that the Cartier watches – which cost $3,000 each – were given to the executives for securing the Bank@Post deal with three of the major banks. Holgate contended that taxpayers’ money had not been used as Australia Post is a commercial business. Some Coalition MPs have called for Holgate to resign, while the Communications Union’s national secretary Greg Rayner says Australia Post’s entire board should step aside.

CORPORATES
AUSTRALIA POST, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COMMUNICATIONS, ELECTRICAL, ELECTRONIC, ENERGY, INFORMATION, POSTAL, PLUMBING AND ALLIED SERVICES UNION OF AUSTRALIA

Little time for strategy on busy boards: Mullen

Original article by Damon Kitney
The Australian – Page: 13 & 14 : 7-Jan-19

Telstra chairman John Mullen says there is a greater degree of resentment towards those who make it to the top of the business world when compared to those in fields such as sport and entertainment. Mullen, who is also the chairman of Toll Holdings, is also concerned that company boards do not have enough time to deal with strategy, due to having to spend too much time on corporate governance issues. He is worried that it will be harder to attract quality people to become company directors in the future.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, TOLL HOLDINGS LIMITED, OWNERSHIP MATTERS PTY LTD, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIANSUPER PTY LTD, CGI GLASS LEWIS PTY LTD, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, ASCIANO LIMITED

Guilty Gregg confronts jail time

Original article by Jenny Wiggins
The Australian Financial Review – Page: 1 & 16 : 12-Dec-18

Leighton Holdings’ former CFO Peter Gregg will be sentenced on 31 January after being convicted on two counts of falsifying the construction firm’s accounts. Gregg had pleaded not guilty to the charges of breaching section 1307(1) of the Corporations Act. Each offence carries a maximum penalty of two years in jail or a fine of $11,000. The case centred on a steel supply deal with a United Arab Emirates-based company in 2011 which involved two payments worth a combined $US15m. Gregg was Leighton’s CFO until 2014; he resigned as CEO of Primary Health Care in early 2017 to contest the charges.

CORPORATES
LEIGHTON HOLDINGS LIMITED, ASIAN GLOBAL PROJECTS AND TRADING FZE, PRIMARY HEALTH CARE LIMITED – ASX PRY, CIMIC GROUP LIMITED – ASX CIM, LEIGHTON WELSPUN CONTRACTORS PRIVATE LIMITED, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, DISTRICT COURT OF NEW SOUTH WALES

Mitchell under pressure to quit Free TV after ASIC court action

Original article by Max Mason
The Australian Financial Review – Page: 18 : 21-Nov-18

Free TV Australia has declined to comment on the future of chairman Harold Mitchell, amid speculation that he may be forced to step down after the Australian Securities & Investments Commission launched legal action against him. ASIC’s civil action concerns Mitchell’s role as a former director of Tennis Australia, where he is alleged to have failed to advise the board that it was likely to secure more money if its TV broadcasting rights were put out to a competitive tender. Sources have suggested that Mitchell’s position at the TV industry lobby group may be untenable.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, TENNIS AUSTRALIA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA

One in three execs plan to die on the job

Original article by Patrick Durkin
The Australian Financial Review – Page: 34 : 4-Jul-17

A survey by recruitment firm Watermark of more than 500 executives over the age of 50 has found that almost a third do not intend to stop working. Ron Gauci, who is 58 and has undertaken a number of interim CEO roles in recent years says that temporary roles typically become available without much notice, so being able to adapt to new situations is important. Jacinta Whelan of Watermark says that 30 per cent of Australia’s workforce is expected to be contingent by 2018.

CORPORATES
WATERMARK SEARCH INTERNATIONAL, MELBOURNE STORM RUGBY LEAGUE CLUB LIMITED, CABCHARGE AUSTRALIA LIMITED – ASX CAB, FEDERATION SQUARE MANAGEMENT PTY LTD, NORTHERN MELBOURNE INSTITUTE OF TECHNICAL AND FURTHER EDUCATION

Standing up to be counted: 50 proud LGBTI executives

Original article by Edmund Tadros, Patrick Durkin, Joanne Gray
The Australian Financial Review – Page: 1 & 13 : 2-Dec-16

Deloitte has compiled a list of prominent executives who belong to the LGBTI (lesbian, gay, bisexual, transgender and intersex) category. The list of 50 LGBTI business leaders will appear in "The Australian Financial Review BOSS" magazine. It includes Optus SingTel chairman Paul O’Sullivan, Business Council of Australia CEO Jennifer Westacott, Qantas CEO Alan Joyce and Partners in Performance CEO Skipp Williamson.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN, PARTNERS IN PERFORMANCE PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, SINGTEL OPTUS PTY LTD

Iron will lets Harding keep Rio fighting fit

Original article by Amanda Saunders
The Australian Financial Review – Page: 53 & 54 : 23-Dec-15

The head of Rio Tinto’s iron ore division, Andrew Harding, downplays suggestions that he could become the resources giant’s next CEO. Rio Tinto’s earnings are heavily weighted toward iron ore, and Harding has gained a high public profile in 2015 amid the downturn in the iron ore price, criticism of the iron ore expansion plans of Rio Tinto and BHP Billiton, and speculation that Glencore will make a new takeover bid for Rio Tinto.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, GLENCORE PLC, FORTESCUE METALS GROUP LIMITED – ASX FMG, ARGO INVESTMENTS LIMITED – ASX ARG