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AGL latest in curious boom in CEOs leaving after pay strikes

AGL latest in curious boom in CEOs leaving after pay strikes Brett Redman is part of a growing trend of CEOs announcing their departures in the year after their firm cops a pay âstrikeâ.Â This yearâs toll sits at eight. Updated Save Share There are lots of reasons to talk about the messy departure of AGL chief executive Brett Redman, who has left the energy company in the lurch with his decision to resign just weeks after announcing he would split its retail and generation divisions into separate companies. Does Redman really deserve his âgood leaverâ status and the hefty entitlements that come with it? Will his decision to depart so suddenly harm his job prospects? Can AGL really hope to pull off this split with its architect gone?

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Qantas, Afterpay, Zip half-year results

David Jones back in fashionable black Sue Mitchell Upmarket retailer David Jones is back in fashionable black after slashing costs, reducing discounts and promotions, cutting debt by selling landmark stores and taking about $35 million in JobKeeper subsidies. David Jonesâ adjusted operating profit rose 33.3 per cent to $56 million in the six months ending December, according to accounts filed by its South African parent, Woolworths Holdings, on Thursday. It was a major turnaround from the June half of 2020, when David Jones lost $53 million as same-store sales fell 14.4 per cent. It crashed to a full year loss of $33 million last year compared with a $37 million profit in 2019.

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Cromwell CEO Paul Weightman Retires After ARA Battle

Mingtiandi Username Cromwell CEO Paul Weightman didn’t do well in his fight with the company’s largest shareholder ARA Asset Management moved a step closer to control of Cromwell Property Group, after the Australian property investment firm announced that its chief executive would be stepping down at year-end. Paul Weightman, who co-founded the A$8 billion ($6 billion) investment management firm in 1998, had been leading an unsuccessful fight against board representation for ARA, which is Cromwell’s largest investor. The Singapore firm had gained board representation in September before Cromwell confirmed Weightman’s upcoming departure late last week. “On behalf of the Cromwell Board and Cromwell securityholders, I would like to acknowledge his longstanding contribution and thank him for his dedication and hard work over more than two decades,” Cromwell chair Jane Tongs said in announcing Weightman’s planned departure to the Australian stock exchange.

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Stocks to watch: CapitaLand, Hi-P, GHY Culture & Media, SLB, Cromwell E-Reit

Stocks to watch: CapitaLand, Hi-P, GHY Culture & Media, SLB, Cromwell E-Reit
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