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)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

New Record: Migrant Arrivals At 129,500 A Year

Annual net migration has been steadily increasing since 2012. "This was mainly due to the rising number of migrant arrivals to New Zealand," population statistics senior manager Peter Dolan said. "Fewer migrant departures also contributed to the increase in net migration." More>>

ALSO:

Launched: NASA's Super Pressure Balloon Takes Flight From NZ

NASA successfully launched its football-stadium-sized, heavy-lift super pressure balloon (SPB) from Wanaka, New Zealand, at10:50 a.m. Tuesday, April 25 (6:50 p.m. April 24 in U.S. Eastern Time), on a mission designed to run 100 or more days floating at 110,000 feet (33.5 km) about the globe in the southern hemisphere's mid-latitude band. More>>

ALSO:

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news