Revolving Doors – May 2024

It’s hard to believe it’s already the final month of autumn! This year is truly flying by!

Despite ongoing concerns about AI, cost-of-living, and other challenges, a new study by payroll firm ADP reveals a surprising level of optimism among Australian workers. The study found 8 out of 10 Australians are confident about the future of work over the next five years. This optimism is particularly strong in sectors like IT & telecoms, construction, and finance. Accountants, take note!

Unsurprisingly, those who enjoy flexible work environments report higher levels of optimism. In fact, New Zealand is leading the way with a whopping 80% of businesses offering flexible hours in 2023. So, if you are experiencing commute burn out, a trip across the ditch might be just the remedy you need.

Shifting gears to finance, CFOs are currently in a critical phase. Their focus is on managing cash flow, tax liabilities, and risk appetite, all while driving their businesses towards strong results by June 30, 2024. The CFO market has seen some noteworthy changes lately, of which we have highlighted below.

ASX Moves IN <

Origin Energy Limited, announced the appointment of Tony Lucas as CFO, effective from 1 July 2024. Mr Lucas is currently EGM –Future Energy & Technology and has worked in a number of executive positions within the company over 22 years. This follows the news that current CFO, Lawrie Tremaine, will retire from Origin after seven years with the company.

Smartgroup, industrial business services business, have appointed Jason King as their CFO effective 20 May 2024, with current CFO, Anthony Dijanosic announced as the new Group Executive – Salary Packaging, Employee Benefits and Fleet.

EQT Holdings have placed their trust in Johanna Platt as CFO, effective Monday 22 July 2024. This follows the decision in late 2023 by Philip Gentry to step down from the position.

Retail apparel group, Universal Store have secured the services of Ethan Orsini, an industry expert, as their new CFO. Orsini will commence on 5 August 2024, following a long handover with outgoing CFO Renee Jones. We have no doubt that Orsini will dress for success!

Lithium miner Sayona have recognised the work undertaken by Dougal Elder, promoting him to CFO and succeeding Paul Crawford, who will continue as an executive director.  

CFO Moves OUT >

Beforepay have advised that Michael Bencsik has resigned from his position as CFO to take up another CFO role at a non-competing, unlisted financial institution. His last day will be 28 June 2024, and let’s hope he gets paid before then!

Interesting Moves Outside the ASX >

iSeek, National digital infrastructure group, has appointed experienced financial strategist Linda Brown as CFO, following an international search. Ms. Brown has returned to her home state of QLD after two decades in senior finance roles with Lendlease in London.

Australia’s largest retail broker network, LendiGroup, have revamped their leadership structure as part of their five-year strategy. The structure features three new appointments across CFO, GM – Growth and GM – Technology. Leo Bautista, ex-ANZ, Nomura & CBA will be their new CFO.

Sharon Markulin has switched Solar for Spirits after being appointed Finance Director APAC, Sazerac Company. Sharon will be Sydney based, working alongside the businesses Asian and global teams. Sazerac Company is one of the world’s largest distilled spirits companies.

From tyres to transport, Santiago Spada changes Pirelli for Fulton Market Group as CFO from April 2024.

In case you missed it, Zembl have a new CFO with Neal Hawkins who started with them in March 2024.

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.