Revolving Doors – November 2024

As we move towards the end of the year, there’s a lot going on in the market. Kunal Gupta & Dave Goldbach, reveal the latest appointments, resignations and job market update!

Interest Rate Watching: Last month the Bank of Canada dropped their interest rate by 50 basis points, in September the US Feds made the first rate cut in four years, and the RBNZ are considering a further mammoth 75 basis points cut. It seems highly unlikely that we will have a Melbourne Cup interest rate cut, but with inflation down to 2.8%, and dropping, it’s only a matter of time. Here’s to hoping for rate cuts in 2025 that would likely fuel the market!

Market Update: Spring is cyclically one of the busiest periods of the year for finance professionals. For those who work in 30 June year-end businesses, you’ve finished your annual stat accounts, annual financial statements, annual audit, AGM requirements and bonuses would have hopefully been paid out. That all lines up as a perfect time to take a breath and find your next role before Australia shuts down from Christmas until the end of January.

That being said, the first half of Spring has been a soft market following a similar trend over the winter months, especially at the higher end of the market. At [axr], we have been finding over the last two weeks that there are green shoots and some real positive signs. Here’s hoping for a rush of high quality roles ahead of the Christmas shutdown.

CFO movements: As always, there have been some notable CFO movements this month, the following are some key ones.

ASX Moves IN <

Audinate Group, worldwide leader in pioneering the future of AV, has appointed Chris Rollinson as CFO effective 14 October 2024. Chris has 25 years of relevant experience having held senior roles at WPP and STW Communications. Chris is a strong commercial ASX CFO and is a great hire during Audinate’s continuing growth stage.

Santos, Australian oil and gas exploration and production company, has appointed Sherry Duhe as CFO effective 14 October 2024. Sherry has the ideal background for Santos having been CFO at Newcrest Mining, Woodside Energy and held senior finance roles at Shell.

Envirosuite, an advanced environmental intelligence technology company, has appointed Emma Stepcic as CFO effective 6 November 2024. Emma has a wealth of knowledge in both corporate and international tax as well as local and international commercial finance. Emma has the perfect background for a company experiencing growth and in need of business transformation.

G8 Education, a leading childcare provider in Australia, has appointed Steven Becker as CFO. Steven has a wealth of knowledge built up over the last 35 years across a range of industries and company structures.

As a follow on, having just resigned from G8 Education, Sharyn Williams will be starting her next CFO role at PWR Holdings. PWR Holdings manufacture liquid cooling plates and brazed chassis for Aerospace, Defence and Motorsport markets. Sharyn is an experience ASX listed CFO and has excelled across various industries and broad senior finance roles.

CFO Moves Out >

3P Learning, educational software company, has announced that Anton Clowes has handed in his resignation as CFO effective from 18 December 2024. Anton will help ensure there is a smooth transition to 3P Learning’s next CFO, Adam McArthur. Anton played a key role in driving transformation and has left the company in a great position.

Frugl, the everyday grocery app, has announced the resignation of Steve Samuel effective from 16 October 2024. Steve held both the positions of CFO and Company Secretary. We wish Steve all the best in his next endeavour.

Interesting Moves Outside the ASX

Angela Elliot was recently appointed as Chief Financial Officer at Altius Group, an integrated workplace health and wellbeing organisation. Altius Group is backed by Private Equity owner, The Riverside Company. As Angela has a strong background in healthcare from her time at Advara Health Care and Genesis Care, she is a natural choice and a great hire!

Alex Smith has been appointed as Chief Financial Officer of Levande, a leading provider of retirement communities. Alex steps in after Emmanuel Zammit resigned as CFO. Levande is backed by EQT Infrastructure, a Sweden-based investment firm. Alex comes highly regarded having held senior management roles at Scope, Australian Unity and Primary Health Care.