Gold Coast’s Eureka Group appoints new chief financial officer, new chief operating officer

VARSITY Lakes company Eureka Group has reshuffled its executives heading into 2019, appointing a new chief financial officer and a chief operations officer.

Eureka Group executive chairman Murray Boyte. Photo: Supplied

VARSITY Lakes company Eureka Group has reshuffled its executives heading into 2019, appointing a new chief financial officer and a chief operations officer.

Big W executive Cameron Taylor will take on the role of COO from early 2019.

Mr Taylor, currently the head of property and facilities for Big W, has also been state property manager Queensland for Woolworths Group and has worked for Flight Centre and Westfield.

In a statement to the ASX, executive chairman Murray Boyte said the appointment would help the company’s growth ambitions.

“Mr Taylor’s leadership experience at a state and national level and his operational experience in managing complex, geographically dispersed property portfolios will be invaluable to Eureka and its planned business expansion in the growing rental market for independent seniors’ living,” he said.

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Euerka Group sold its stake in Couran Cove in September. Picture by Scott Fletcher

Eureka’s current CFO and joint Company Secretary Paul Cochrane resigned effective December 21 after 18 months in the roles.

He will be replaced by Tracey Campion from January 21.

Ms Campion is currently financial controller at Taylor Byrne Valuers in Brisbane, and has held chief financial officer and other senior finance roles in Australia and overseas.

Mr Boyte said Ms Campion had substantial experience in leading and mentoring finance teams.

“Tracey’s broad commercial experience in senior financial roles, and her solid understanding of accounting systems and financial reporting will be an asset to Eureka,” he said.

Laura Fanning will continue as Eureka’s Company Secretary following Mr Cochrane’s resignation.

The group sold 28 cabins and apartments at the Couran Cove Resort at little more than $70,000 a title to WN Developments, a Sydney trustee company.

The company logged a loss of $276,000 for FY18, down 104.2 per cent from a $6.5 million profit the previous year.

Revenue dipped 11.6 per cent to $23.4 million, and earnings fell 71 per cent to $2.7 million.

Eureka, which this year offloaded its stake in Couran Cove, owns the former Royal Terranora Resort and paid $18 million for two seniors rental villages in Hobart, two in Launceston and one in Devonport. Its shares were stable at 27 cents on Monday.