Most company directors would consider joining the board of global mining giant BHP Billiton the peak of their career, but for Michael Chaney it was a mere stepping stone.
Most company directors would consider joining the board of global mining giant BHP Billiton the peak of their career, but for Michael Chaney it was a mere stepping stone.
Mr Chaney has accepted a series of new posts during the past 12 months that confirm his position at the pinnacle of power and influence in Australia.
He has become chairman of National Australia Bank and agreed to become chairman of Woodside Petroleum after the incumbent, Melbourne establishment figure Charles Goode, retires in 2007.
Mr Chaney has also become president of the Business Council of Australia, chancellor of the University of Western Australia and is a director of the free-market think tank, the Centre for Independent Studies.
These appointments followed his retirement last year as managing director of Wesfarmers, where he grew to become one of the country’s most respected business leaders, and as a director of BHP Billiton.
Another company director on the rise is John Poynton, who combines his day job as executive chairman of corporate advisory firm Azure Capital with a growing schedule of board positions.
His latest move was to take over as chairman of what is arguably WA’s most entrepreneurial big company, Alinta.
Mr Poynton is also deputy chairman of Austal and sits on the board of Multiplex and Burswood, with the latter position symbolising his connections with the Packer family.
In addition he is a member of the Payments System board of the Reserve Bank.
Some company directors have a sphere of influence that extends well beyond their board positions.
People like Mr Chaney, Mr Poynton and also Tony Howarth carry wide influence because they are highly respected in business and political circles.
Mr Howarth retired this year as chairman of Alinta, but he chairs Home Building Society, which is due to merge with StateWest Credit Society, St John of Gold Healthcare and is a director of Mermaid Marine and, since March 2005, embattled wheat exporter AWB.
The title of Perth’s busiest director (not counting companies based in Balcatta) must go to former Freehills managing partner Peter Mansell, whose board roles include being chairman of Zinifex and Ferngrove Vineyards Estate, and a director of West Australian Newspapers Holdings.
Mr Mansell has a knack for getting onto the boards of companies that get taken over. JDV, Foodland Associated and Tethyan Copper have all been acquired in the past year or so, but only after the incumbent boards extracted a better price from the bidders.
As quickly as one company is taken over, Mr Mansell finds a new position, having joined the boards of Great Southern Plantations, Hardman Resources and Western Power (as chairman) in the past year.
He typifies the modern breed of professional director who sees the role as being a new phase in their career rather than a part-time pursuit undertaken towards the end of their working lives.
Former Macquarie Bank corporate adviser David Griffiths quickly established himself as a company director last year.
No sooner had he retired than he joined Great Southern and growing gas producer Arc Energy as chairman.
Former WA premier Richard Court has become more prominent as a company director, having taken over as chairman of GRD (after earlier being chairman of its engineering arm, Minproc) this year.
A discussion of prominent WA company directors would not be complete without mention of former AWB chairman Trevor Flugge, who became enmeshed in the oil for food scandal being investigated by the Cole commission.
After several days of damaging testimony and repeated memory lapses early this year, Mr Flugge stepped down from his public board positions, which included being a director of Wesfarmers and automotive group AHG and chairman of IBT Education.
The upcoming report of the Cole commission will determine whether Mr Flugge is able to recover his one-time blue chip reputation.
In the meantime, his absence has allowed others to step up.
The chair at IBT Education has been taken by former banker Harvey Collins, who is also a director of Worldwide Online Printing, HBF, the Government Employees’ Superannuation Board and Verve Energy.
