Directors look to 2021 with a sense of optimism
In a reversal from last year’s pessimism, leading directors say they have a positive outlook for the next 12 months, although some uncertainties still cloud the picture.
Cochlear, ASX and Santos director Yasmin Allen: “If companies continue to want to make changes and take risk, I think that’s going to be a real positive for business. It’s like a clearing out or a reset.” Peter Braig
O ver the past two months, the head of one of Australia’s biggest employers has had a change of heart about the outlook for business in 2021. For Michael Chaney, chairman of Wesfarmers, which owns the Bunnings, Target and Kmart chains, pessimism about waning consumer demand has been replaced by optimism that the economy will withstand the axing of the Morrison government’s COVID-19-related support programs at the end of March.
“Two months ago I would have said that it would be very difficult in the retail industry [this year], certainly after March when the government’s [JobKeeper and JobSeeker] support ends,” Chaney says.
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