The Sauce: Property tycoon Jean Nassif suffers blow with the resignation of Toplace CEO
Toplace Group owner Jean Nassif is on the lookout for a new CEO after his most recent quit after just five months on the job. The Sauce also reveals the latest on the Liberal leadership and the contender who wants the job, but doesn’t.
NSW
Don't miss out on the headlines from NSW. Followed categories will be added to My News.
Embattled property tycoon Jean Nassif has been having a rubbish time of late with the Toplace Group owner now having lost his chief executive officer after five months in the job.
The Sauce can reveal former Liberal Party state executive member Jeff Egan quit the firm last month over “differences” with Nassif on the operations and management of Toplace.
Egan became CEO in November 2022 and resigned in early March this year.
A Liberal source close to Egan said he resigned following differences with how Nassif was running Toplace. However, the police investigation involving Nassif’s daughter Ashlyn Nassif is also understood to have been a factor in Egan’s decision to part ways with the company.
There is no suggestion of any wrongdoing by Egan as the matters being investigated occurred prior to him joining the company. Nor is there any suggestion of impropriety by Mr Nassif.
Egan’s next move is expected to be a return to consultancy work in the infrastructure, property and education sectors.
Ashlyn Nassif was charged in February with dishonestly obtaining financial advantage by deception and publishing false misleading material to obtain advantage after allegedly securing a $150m loan from Westpac with a falsified pre-sale contract in 2021. Ms Nassif allegedly submitted misleading contracts to meet a $10.5m pre-sales condition for Skyview Apartments at Castle Hill, in Sydney’s northwest, to trigger the $150m bank loan for construction of three towers.
Well known among developers, Jean Nassif gained public attention after a video he made of himself gifting his wife Nissy a $480,000 yellow Lamborghini on Valentine’s Day went viral on social media.
LEADERLESS LIBS
He may not have confirmed his leadership tilt, but Liberal sources claim former attorney general Mark Speakman SC has gone as far as drafting his desired cabinet.
And if the sources are correct, he proposes to offer former treasurer Matt Kean the health portfolio. This makes some sense given the new Treasurer Daniel Mookhey resides in the upper house. But it also fuels rumours that Kean may not be in state politics for the long haul, with ongoing speculation he may try to head to Canberra, potentially via a seat like Bradfield should Paul Fletcher retire.
As for the leadership race, former planning minister Anthony Roberts is still the only contender to confirm his intention to run when MPs gather next Friday – albeit somewhat reluctantly – although former enterprise, investment and trade minister Alister Henskens is still very much in the mix.
Henskens, who like Speakman is an SC, is understood to be speaking with his colleagues over the weekend before declaring what he will do.
While neither “Speako” nor Henskens were making any public comment, “Robbo” told The Sauce he would take the role “if it is given to me”, while also indicating he would be willing to – like Roman legend Cincinnatus* – “step aside” when he had achieved what was necessary in the role.
“We need someone who will accept the fact that we could have done better,” Roberts said.
“It’s time for reform and time for the party to move in to a position so we are able to come back. It’s time to wake up and say we spent too much time focusing on ourselves and not the people of NSW.”
As for how badly he wants the gig?
“I don’t,” Roberts said. “Do I want this? No, I really don’t.
“Mark Speakman would be a great leader. Alister Henskens would be a great leader … I have no ambition to be leader of the party.
“I’ll take the role if it is given to me, but I will see my time out and I am happy to step aside once I’ve achieved and not a day later.”
*Cincinnatus worked his own small farm until an invasion prompted his fellow citizens to call for his leadership. Upon achieving a swift victory in only 16 days, he relinquished his power and returned to his farm.
RUSH JOB
He was announced as the interim chairman of Venues NSW, but is the appointment of Rod McGeoch “official”? We are asking the question given the discovery of a letter to McGeoch signed by former Perrottet government minister Natalie Ward sitting discarded on a ministerial printer.
Dated March 24 – the day before the state election – the letter congratulates McGeoch on his appointment, while noting how his legal and “extensive consulting expertise” along with his business acumen would be “priceless” in the role.
“NSW is in good hands with great minds such as yours leading it,” Ward wrote. “If I may be any assistance in the future, please do not hesitate to contact me personally on my mobile or my office.”
Whether Ward was writing to confirm his appointment or simply reaching out to congratulate the man known as “Mr Olympics” is unclear, only that the rush out the door appear to have resulted in it being left behind.
Should McGeoch need the official corro, The Sauce is happy to hand it over.
AYRES IN THE MIX
The word is former Perrottet government minister Stuart Ayres is on the shortlist to head up one of the nation’s most powerful business lobby groups.
A hunt has been under way to fill the coveted role of Business Council of Australia chief since incumbent Jennifer Westacott declared she would be standing down earlier this year after 12 years in the job.
A recruitment firm is understood to have been scouting for candidates, with sources close to the organisation claiming Ayres – who has been out of a job since losing the seat of Penrith at the state election – was in the mix.
Stay tuned.
AMBITIOUS HEIGHTS
When US ambassador Caroline Kennedy visited a wind farm near Yass last week, she took the job of inspecting the General Electric Cypress turbine to a whole new level.
Photographs of the visit obtained by The Sauce show the high-profile diplomat decked out in a hi-vis clothing and – despite being strapped to the top of a turbine 135m from the ground – looking completely at ease.
The turbine is one of 46 that will generate energy for 120,000 homes.
Ms Kennedy was visiting the wind farm to learn more about Australia’s energy transition.
The visit followed the US ambassador meeting with members of the GE team in November last year to learn more about their investment and innovation in Australia’s clean energy technologies.
SPOTTED
Dumped Clubs NSW boss Josh Landis looking fit and relaxed while power-walking along the Manly wharf with his wife Fiona on Wednesday afternoon.
The couple – who live in Sydney’s eastern suburbs – had a golden retriever in tow and looked to be heading out for a long fitness walk.
Fillies flock to party at the races
The plans of Racing NSW supremo Peter V’landys to attract a younger - and more female - crowd to the races is clearly working, with women snapping up more than half of the tickets sold so far for the Everest Carnival.
Mehajer’s mansion up for sale — no stickybeaks allowed
The former Lidcombe home of property developer and convicted fraudster Salim Mehajer is up for sale, but only pre-registered potential buyers can inspect it. Check out the pictures here.