To some, John Elliott, who died on Thursday, will be remembered as a brilliant star who exploded across the corporate firmament during the 1970s and 1980s – a white knight who saved the Melbourne business establishment and built a corporate empire virtually from scratch.
He was witty, warm-hearted, a man clearly devoted to his children and grandchildren, fun to be around. His distinctive laugh was as expansive as it was raucous. Those closest to him said his personal loyalty and generosity knew no bounds. Elliott loved to party, referring to it as bonding.
An above-average student with a stunning ability to cram, at university Elliott revived the defunct Commerce Society. It was also a convenient front for an intensive card school and offered liberal incentives to the faculty’s football team in the form of free beer. McKinsey and Co provided Elliott’s entree into Melbourne’s business establishment and his first taste of corporate management at a senior level. One of his first big successes was turning around the financial fortunes of a large retail chain in the United States while on secondment to McKinsey’s Chicago offices, but he was homesick so returned and stayed with McKinsey for another 18 months before deciding to go out on his own in 1972.
When Elliott went to South Africa to check the company’s assets there, it was the first visit from head office in 12 years. The clerks still stood at their desks with quill pens. But it had between $30 million and $50 million in book assets, many of which could be rationalised.The takeover was successful and profitable, and was soon followed by other acquisitions.
In 1989, Elliott and his team attempted to remedy this with a so-called management buyout of the Elders group.
If you steal millions, you’re a lovable larrikin. If you are overpaid by Centrelink without your knowledge and can’t pay it back, you’re off to jail. No exaggeration - this is Australia
Put the club back 20 years
Gay_Alcorn Jack will be greatly missed.....last of the men before the woke girly men took over.....Not including son Tom....
There's a time and place to stick it into them. This is not it.
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