Livewire has acquired Market Index, the country’s leader in free stock market data.
Find out why.

Cairns demands commitment at Woolworths

Intelligent Investor

Independent Financial Research

A boardroom clean-out has been occupying the mind of Woolworths chairman Gordon Cairns. Even more important is who he will choose as chief executive. It’s almost gone unnoticed, but there’s been a purge in Woolworths’ (ASX: WOW) boardroom. Yesterday chairman Gordon Cairns – himself only in the job since September – announced that the services of director Jayne Hrdlicka were no longer required. Hrdlicka is the chief executive of Jetstar and a member of the Qantas Group (ASX: QAN) executive committee. It’s hard to see how the chief executive of one company has the time to serve as a director of an unrelated one. In the announcement, Cairns stated: ‘Regrettably Ms Hrdlicka has concluded that the demands of the Woolworths Board … are too significant in balance with her commitments as the Jetstar CEO’. The subtext was clear. Cairns needs commitment from Woolworths’ directors and, if you can’t dedicate the time, get out. We were impressed with Cairns’ performance at the annual general meeting, and this decision gets another tick from us. Continue reading article: (VIEW LINK)


Intelligent Investor
Intelligent Investor
Independent Financial Research

Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.