Toll in the black – P&L relief; junk balance sheet; weak cash flows
Mixed at best, but better
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By Mr Joy
Regulation, emerging technologies, and energy transition are key challenges facing leaders in our industry.
These will need to be carefully considered within the context of a faltering global economy.
But first…
No, not joking!
I was eating my lunch the other day, reading the various news sites when a report came in that a new chairperson for Qantas had been announced.
Given the nature of this high profile and critical role in light of recent missteps by Messrs Goyder, ...
Comment on this article
chris dunphy
February 28, 2024 at 5:25 amWell stated Mr Joy
Mullen was lucky to have Malcolm Broomhead as Chair @ Asciano when he took over from the accident-prone Mark Rowsthorn.
For his part Mullen was a largely absent CEO, choosing to indulge in his scuba diving & other pursuits rather than making any strategic moves on the duopoly he inherited.
To paraphrase Buffett, Mullen was an average manager in a rising industry = not hard to do well.
His oversight as Chair has been nothing short of wholesale value destruction for shareholders, starting with Toll – as we both know !!