Australian economy: Companies look to replace underperforming executives in tough economy

Already a subscriber?San Churro chief executive Kerri Wane and her team spoke to 108 candidates and shortlisted 28 before hiring Jarrod Appleby as the company’s new chief operating officer.

But Emu Search managing partner, Luke Marshall, who helped recruit Mr Appleby, said about 90 per cent of his firm’s work came from leaders asking his recruiters to find replacements for underperforming executives.“It’s doing more with less and finding leaders who can operate in that environment,” Mr Marshall said.

Hiring was particularly strong in manufacturing, private-equity-backed healthcare, non-discretionary consumer goods and companies linked to the energy transition, he said. “There’s a greater focus on and refreshing critical roles across leadership teams – and that’s quite consistent with other economic downturns that we’ve seen in the past,” Mr Johnson said, adding that CFOs and treasurers were particularly common replacement targets.He said his firm had also experienced strong demand for “sustainability and energy transition evangelists, data and digital natives, customer champions, cybersecurity, AI, robotics and technology leaders”.

Source: News Formal (newsformal.com)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Australian companies that profited $98 billion from global crisesMining giants, supermarkets and big banks are among those who made mammoth profits due to global crises, according to a new report.
Source: SBSNews - 🏆 3. / 89 Read more »

Lendlease, Intrepid Mine, ANZ: Global ambitions a dangerous trap for overzealous Australian companies“An organic approach to world domination is a better way to do it,” says Allan Gray’s Simon Mawhinney. A string of failures shows him to on the money.
Source: FinancialReview - 🏆 2. / 90 Read more »

Japan using Australian gas to shore up regional influenceJapanese energy companies are on-selling surplus Australian gas to allies in South-East Asia.
Source: FinancialReview - 🏆 2. / 90 Read more »

Australia’s power and gas companies want Coalition to retain Labor’s 2030 climate targetCoal and gas-fired power plant owners say interim target an important step to net zero by 2050
Source: GuardianAus - 🏆 1. / 98 Read more »

Coal companies rebuke Dutton as Coalition pushes on with nuclear plansThe opposition leader will announce the sites of proposed nuclear plants on Wednesday even as power companies warn against the economic impact of ditching the 2030 climate target.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Australia’s biggest companies made nearly $100bn in ‘crisis profits’ amid Covid and Ukraine warOxfam analysis finds Woolworths, Hancock Prospecting and NAB among companies to rake in much higher profits off the back of crisis conditions
Source: GuardianAus - 🏆 1. / 98 Read more »