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Executive shake-up

This Month

Richard Fennell will take over as Bendigo and Adelaide Bank’s CEO.

Bendigo Bank names new CEO

Marnie Baker is bowing out after six years at the helm of the regional lender, elevating Bendigo’s chief customer officer Richard Fennell to be its next CEO.

  • James Eyers

Why underperforming executives need to be worried

It’s about doing more with less and finding leaders who can operate in that environment, says the managing partner at an executive search firm.

  • Euan Black
Nick Hawkins, IAG’s CEO

Simpler, predictable earnings this year’s equity market story

Fewer shocks and more bankable businesses, that’s what is in fashion with investors this year. The list of companies trying to dish it up is growing.

  • Anthony Macdonald

June

Former Origin Energy boss Grant King will succeed Jerry Maycock as chairman of Transgrid.

Grant King to succeed Jerry Maycock as Transgrid chairman

The changeover at the helm of the NSW grid owner comes as the build-out of the transmission system has become a major stumbling block to the energy transition.

  • Angela Macdonald-Smith
Other company directors are looking at National Australia Bank chairman Phil Chronican and his board for lessons on CEO Ross McEwan’s succession.

The key person in NAB succession wasn’t the new CEO

National Australia Bank’s handover to new CEO Andrew Irvine is being held up as the new gold standard in succession planning. Chairman Philip Chronican explains how it went down.

  • Anthony Macdonald
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Virgin Australia has streamlined its operations, but is in danger of becoming squeezed between premium services and budget carriers.

Virgin IPO may not fly for next boss

There are plenty of big questions for the airline’s next chief executive – including what the carrier will look like, and how it will be owned, in the long run.

  • Updated
  • Ayesha de Kretser
Gill McLachlan ran the AFL until last year. He was appointed Tabcorp’s chief executive on Monday.

Former AFL boss Gillon McLachlan takes on ‘legacy brand’ Tabcorp

He arrives at the company in the midst of a painful transformation and after the departure of Adam Rytenskild, who was being investigated for offensive language.

  • Updated
  • Zoe Samios

Judo Bank poaches APRA’s top bank supervisor

Renee Roberts, who led the prudential regulator’s bank supervision teams, will from September join one of the companies she monitored as chief risk officer.

  • James Eyers
Julie Shuttleworth has quit Fortescue after 11 years in senior management and executive roles.

Forrest lieutenant Julie Shuttleworth exits Fortescue after a decade

Her departure adds to the growing list of executives who have left Fortescue recently. Ms Shuttleworth said she was leaving to spend more time with her family.

  • Brad Thompson and Peter Ker
Brett Blundy and Solomon Lew are two of the country’s highest-profile retailing billionaires.

Lovisa investors remain bullish despite high-profile CEO exit

But brokers have downgraded the Brett Blundy-controlled chain as the executive who oversaw rapid international expansion, Spaniard Victor Herrero, leaves.

  • Carrie LaFrenz
Brett Blundy and Solomon Lew are two of the country’s highest-profile retailing billionaires.

Brett Blundy poaches new Lovisa boss from Solomon Lew’s retail empire

The jeweller’s chief executive, Victor Herrero, will be succeeded by John Cheston, who runs Smiggle. Premier Investments has been hoping to float the kid’s stationery chain.

  • Updated
  • Carrie LaFrenz

May

Citi’s head of investment banking Alex Cartel and CEO for Australia and New Zealand Mark Woodruff.

Citi debt capital market bigwigs depart the bank

Street Talk understands Ollie Williams and Keith Mitchell have left the investment bank. 

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Canva’s Create conference in LA.

Canva enterprise boss out after six months

Former Google and Microsoft executive Javier Soltero was hired to lead the company’s enterprise efforts, which are key to its IPO plans.

  • Nick Bonyhady
Cbus chief executive Kristian Fok.

High exec turnover at Cbus has the super sector talking

An exodus of at least 10 Cbus executives has eyes fixed on the $85 billion construction industry super fund giant.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Luke Latham only joined Airwallex in June 2023.

Airwallex Australia GM Luke Latham calls it quits

Latham only joined the money remittance start-up last June.

  • Lucas Baird
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Emma Foley is Uber’s new Australian managing director, while Ed Kitchen will run Uber Eats.

New Uber bosses to see through gig economy transition

There will be new heads of both Uber and Uber Eats in Australia, ahead of gig economy rules that threaten to significantly raise its cost of doing business.

  • Paul Smith
NBN Co chief executive Stephen Rue is a known quantity; that’s important for his new employer Optus.

Fresh meat in the Optus sandwich promised a helping hand

Optus and its owner, Singtel, have made governance changes to try to make the incoming CEO’s job easier. We’ll wait to see the proof.

  • Anthony Macdonald
Deutsche Bank pulled out of Australian equity capital markets and equities trading in 2019.

Deutsche Bank veteran exits after spearheading a five-year restructure

Hugh Macdonald has led the European bank’s investment banking arm since 2020.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Gone but not forgotten: Former Star Entertainment CEO Robbie Cooke and executive chairman David Foster.

Star chief’s sacking reveals boardroom exit wounds

“There is a narrative behind every departure,” former Star boss Robbie Cooke says. Unfortunately for Cooke, we’ve been given a rare glimpse into his.

  • Anthony Macdonald

April

Adore Beauty CEO Tamalin Morton.

Adore Beauty CEO Morton to step down

The online beauty retailer is on the hunt for another CEO after Tamalin Morton flagged plans to exit in September.

  • Carrie LaFrenz

Original URL: https://www.afr.com/topic/executive-shake-up-1nc8