The growth engine of Jack Cowin's business empire is now the US shale boom after a mediocre year in his Competitive Foods business, which had flat underlying profits.

It's been a busy time for the Financial Review Rich Lister. On Monday he oversaw Fairfax Media's merger with Nine and will leave the board, despite an invitation to stay, while learning that Harold Mitchell is alleged to have scuppered Network Ten's tennis plans while Mr Cowin was a director there in 2013.