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

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news