Revolving Doors – April 2024

2024 has commenced with more market noise than ever, a booming share market, ongoing corporate redundancies, along with question marks on the trend of interest rates and inflation. So, it came as a bit of a surprise when the ABS released its data for February, with the unemployment rate falling 0.4 percentage points to 3.7 per cent. This result is reflected in the activity we have experienced through February and March.

We’re observing distinct recruitment trends emerging across various levels of the Accounting & Finance sector. In mid-market roles, candidates continue to drive the market, with skills taking precedence over experience. The most sought-after skill remains data management and analytics. Further to our last update, we are seeing more activity at the C-suite level as accountability for performance returns in markets with more headwinds than in recent times.

Some of the most notable CFO changes announced over the last month include:

ASX CFO Moves In

GPT Group, leading retail asset and investor group, announced the appointment of Merran Edwards as CFO, no later than 1 July 2024. Edwards will join GPT from Investa where she has been the Head of Investment Management and CFO.

Star Entertainment Group, amidst their battle with the NSW casino regulator, announced the exit of 4 high profile executives in their CEO, CCO, Chief of Staff and CFO – Christina Katsibouba – one of the most resilient and capable CFO’s in the market. Neale O’Connell, ex CFO of Tatts Group has been appointed Interim CFO until a permanent candidate is announced.

Healius, one of Australia’s leading healthcare companies, coping with struggles of their own, has replaced their CEO with Paul Anderson on 5 March, from his previous position of the company’s CFO. Steve Humphries, Deputy CFO has stepped into the CFO role.

Meteoric Resources, pioneering exploration of Rare Earths for an Electric Future, announced the appointment of Stuart Gale as CFO effective 8 April, following an extensive talent search. Stuart was most recently the CFO at Mineral Resources – Lithium Division.

Genetic Technologies Limited, a global leader in genomic-based testing, have appointed the experienced Kathern Andrews as their CFO and company secretary, effective 25 March.

CFO Moves Out

SkyCity Entertainment Group, Australasian casino operator, has shuffled the deck with Julie Amey resigning from her position as CFO. Julie will remain in the role for a further six months, stepping down on 25 September.

Banjo Loans, provider of unsecured business loans & asset finance, announced that Andrew Fitzpatrick will be leaving the business after 5 years in the role due to family commitments. Paul Pesavento has been appointed as their new CFO.

Interesting Moves Outside ASX

A firm believer that Red Bull gives you wings, Mia Barry takes flight as Red Bull’s Finance Director, effectively CFO – Australia in March. Mia was previously the Chief Strategy and Financial Officer at Oroton Group.

Lumonus, a company focused on transforming cancer care, have appointed Rebecca Edwards as their CFO. Rebecca brings with her a wealth of experience in the healthcare industry, most recently as Commercial Director at GenesisCare Solutions.

Authors:

Greg Madden – One of the founders and an executive director of [axr]. He leads the Career Advisory and Transformation practice and specialises in Accounting, Finance and Business Transformation Recruitment. Greg is also one of the Program Directors for The [axr] CFO Incubator.

Greg O’Shea – Greg is a founder and executive director of [axr]. He leads the Accounting & Finance practice and specialises in CFO and Senior A&F roles. With over 30 years of recruitment experience, Greg is an expert in the Sydney market – known for his advisory capabilities as he delivers career outcomes aligned to business culture and vision to stand out from others in the market.

Kunal Gupta – Kunal comes with over 15 years of experience working in Finance & Accounting. Ex-Big 4, CA qualified with industry experience across Financial Control, FP&A and Commercial Finance.