Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Goodman Fielder CFO Gannon returns to building sector

Shane Gannon returns to building sector after 2 years as Goodman Fielder CFO

Aug. 30 (BusinessDesk) – Goodman Fielder chief financial officer Shane Gannon has resigned, after helping steer Australasia’s biggest food maker back to profit, returning to the building industry as CFO in an overhauled executive team at Mirvac Group.

Gannon was tapped for the Goodman role in late 2011, having served as CFO and director of CSR at a time the building materials firm was changing its corporate structure and divesting its sugar assets. He has previously held executive roles at Lend Lease, explosives maker Dyno Nobel and Novera Energy.

Sydney-based Goodman posted a loss of A$102 million in the year ended June 30, from a loss of $146.9 million a year earlier. It had undergone two years of restructuring aimed at streamlining its range of brands, exiting unprofitable businesses and paying down debt.

Calendar 2011 was a time of management shake-up at Goodman, which also named Chris Delaney as chief executive that year.

Mirvac has also been overhauling its line-up, with the resignation of chairman James MacKenzie last week being the latest in a string of changes. Former CFO Justin Mitchell resigned in 2012 and Greg Dyer was appointed finance director on Aug. 6, 2012, only to resign in April this year.

Managing director Nick Collishaw stepped down at the end of October 2012 and was replaced by Susan Lloyd-Hurwitz, who restructured her executive team in January this year.

Goodman Fielder CEO Delaney said Gannon had made a significant contribution to the company’s strategy of strengthening its financial position. The company’s net debt fell by 40 percent to A$434.5 million in its latest year.

(BusinessDesk)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.