The reorganisation of the senior ranks of the much-criticised Public Trustee of Queensland continues with a firing and redeployment this month

The turbulent times of the Public Trustee of Queensland continue in the wake of the suspension of its CEO, with an executive who reportedly identified a raft of problems with a project whose budget blew out by $7 million being given his marching orders.

THE reorganisation of the senior ranks running the much-criticised Public Trustee of Queensland continues quietly behind the scenes.

City Beat spies report that David Cook, the executive director responsible for “digital and technology,’’ was abruptly handed his walking papers earlier this month by acting PT and CEO Samay Zhouand after just 2½ years on the job.

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“He was called to the PT’s office at 3pm and then came back down, took his bag and then a whole D&T meeting was called and the PT and all the executives came down to tell us that he no longer works for us,’’ one insider said.

We hear Cook, a former Sunsuper operative, was regarded as something of a star performer by Peter Carne, who was suspended as PT and CEO three months ago over undisclosed allegations of wrongdoing now under investigation by the Crime and Corruption Commission.

Peter Carne

It’s understood Cook had identified a raft of problems with a planned new software package known as “Athena’’, which is set to be rolled out to replace an antiquated existing system.

An initial budget of around $2 million to $3 million for the project is believed to have blown out to more than $10 million.

Meanwhile, eyebrows also arched skyward this month when CFO Justine Callaghan, the executive director for investment and financial services, was seconded to the Department of Agriculture and Fisheries for reasons that remain unclear.

Both Cook and Callaghan had been part of an eight-member bunch of top guns known as the “executive leadership team’’ (ELT) that included Zhouand.

Our inside sources say that, while individual executives still retain their posts, the ELT has now been sliced to just Zhouand and his acting senior director for the office of the CEO, Jacob Fredericks, who only parachuted in to the role in July.

But a PT spin doctor insisted yesterday that the team remains eight-strong while declining to respond to questions about the ouster of Cook and redeployment of Callaghan.

Neither Cook nor Callaghan could be reached for comment yesterday. Carne, who has not publicly addressed the allegations against him, also could not be contacted.

DESPERATE DAYS

These are desperate days for Smiles Inclusive, which has announced a $3.3 million capital raising to fund a “turnaround plan’’ to survive.

The move announced yesterday comes just three months after the struggling Gold Coast-based dental group was forced to rustle up $1.2 million.

The company, which floated in April last year after amassing $35 million from investors, has been plagued since then by boardroom brawls and legal battles.

It reported a staggering $18.8 million net loss in the last financial year and, in an embarrassing blunder, acknowledged making late commission payments to multiple dentists earlier this month.

The group, trading under the banner of Totally Smiles, has 56 dental practices dotted across the country and many of the owners are furious at how badly things have unravelled.

Dr John Camacho

Dr John Camacho and Dr Arthur Walsh have emerged as among the most savage critics.

Camacho ridiculed the company’s claims of 7 per cent sales growth yesterday and said it was “going backwards as we speak.”

Walsh went further, dismissing Smiles as “a complete debacle’’ and wondering what happens if Morgans walks away as underwriter of the $3.3 million rights issue at 5 cents per share.

Earlier this month, Camacho warned that a cash burn rate of $130,000 per week was unsustainable. He also slammed the company as “desperate’’ for citing $1.19 million in “Bartercard Trade dollars’’ when questioned by the ASX over its financial health.

NEW BOSS

One of Queensland’s peak business lobby groups has a new boss

It emerged this week that Rebecca Andrews has taken on the job of state head for the Australian Industry Group.

Andrews, who previously ran the State Government’s Office of Small Business, brings more than 20 years of experience in the public and private sectors to the task.

She replaces Shane Rodgers, a former media and marketing executive who spent two years in the role.