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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news