CORRECT: Shane Gannon returns to building sector after 2 years as Goodman Fielder CFO
(Corrects third paragraph to show profit in latest year)
Aug. 30 (BusinessDesk) – Goodman Fielder chief financial officer Shane Gannon has resigned, after helping steer
Australasia’s biggest food maker back to profit, returning to the building industry as CFO in an overhauled executive
team at Mirvac Group.
Gannon was tapped for the Goodman role in late 2011, having served as CFO and director of CSR at a time the building
materials firm was changing its corporate structure and divesting its sugar assets. He has previously held executive
roles at Lend Lease, explosives maker Dyno Nobel and Novera Energy.
Sydney-based Goodman had a profit of A$102 million in the year ended June 30, from a loss of A$146.9 million a year
earlier. It had undergone two years of restructuring aimed at streamlining its range of brands, exiting unprofitable
businesses and paying down debt.
Calendar 2011 was a time of management shake-up at Goodman, which also named Chris Delaney as chief executive that year.
Mirvac has also been overhauling its line-up, with the resignation of chairman James MacKenzie last week being the
latest in a string of changes. Former CFO Justin Mitchell resigned in 2012 and Greg Dyer was appointed finance director
on Aug. 6, 2012, only to resign in April this year.
Managing director Nick Collishaw stepped down at the end of October 2012 and was replaced by Susan Lloyd-Hurwitz, who
restructured her executive team in January this year.
Goodman Fielder CEO Delaney said Gannon had made a significant contribution to the company’s strategy of strengthening
its financial position. The company’s net debt fell by 40 percent to A$434.5 million in its latest year.
(BusinessDesk)