July 12 will be a major milestone in corporate Western Australia. It’s the day Michael Chaney will end his remarkably successful 13-year term as managing director of the state’s biggest industrial company, Wesfarmers.
July 12 will be a major milestone in corporate Western Australia. It’s the day Michael Chaney will end his remarkably successful 13-year term as managing director of the state’s biggest industrial company, Wesfarmers.
Like most things Mr Chaney manages, the succession is running very smoothly and successfully.
His successor, Richard Goyder, was named in May last year, and as deputy managing director has been progressively taking charge of the businesss.
Mr Chaney’s success at Wesfarmers has elevated his status in the wider community. When he speaks, he draws a crowd and people listen.
For instance, when he was guest speaker at a WA Business News Success and Leadership event this year, the event rapidly sold out.
As well as gaining plaudits for his business success, the 55-year-old Mr Chaney has won respect and recognition for his support for corporate philanthropy and corporate social responsibility.
Against this backdrop, it was hardly surprising that he was selected for one of the most challenging jobs in corporate Australia, chairing the trouble-plagued National Australia Bank.
He already sits on the board of the National and takes over as chairman in September.
Mr Chaney’s second major board role is as non-executive director of BHP Billiton, a position he has held since 1995.
His other positions include being a director of the Centre for Independent Studies and vice-president of the Business Council of Australia, which he has used as a platform for speaking on economic policy issues, particularly on the need for a flexible workplace relations system.
Tony Howarth is another of WA’s most respected business leaders.
He chairs Alinta, one of the state’s most successful and rapidly growing businesses, as well as Home Building Society and St John of God Health Care, a major national healthcare group.
Mr Howarth is also a member of numerous community organisations, among them the Prime Minister’s Community Business Partnership, and has been active in the Chamber of Commerce and Industry of WA.
Mr Howarth, a big rugby fan, was also involved in organising Rugby WA’s successful bid for a Perth-based team to enter the Super 14 rugby competition.
John Poynton is one of the busiest business people in Perth, and his network of influence appears to spread ever wider.
He made his name as head of stockbroking firm Hartley Poynton in the late 1980s and early 1990s, when it was the pre-eminent broking firm in Perth.
He went on to co-found corporate advisory firm Poynton & Partners, which the partners, including Mark Barnaba, sold for more than $40 million in 2000.
His latest venture is merchant bank Azure Capital, which was once again co-founded with managing director Mark Barnaba.
Mr Poynton has progressively increased his board roles over the years, joining ship builder Austal, Alinta and Multiplex.
He is also a member of the Payments System Board of the Reserve Bank of Australia, chair of the WA Museum Foundation and is a member of the Business School at the University of WA.
Peter Mansell is an even more prolific director, having accumulated eight board positions since retiring from national law firm Freehills.
Erich Fraunschiel is one of the quiet achievers in WA’s business community.
He was finance director of Wesfarmers for 10 years until 2002, working alongside Michael Chaney during a period of rapid and profitable growth.
Arguably he could have become Wesfarmers’ chief executive if he chose to stay, but it is understood he preferred to keep a low profile.
If a measure of success is the quality of board positions he has accepted, then Mr Fraunschiel must be very highly regarded.
He is a director of Woodside Petroleum, international engineering group WorleyParsons, West Australian Newspapers and Rabobank Australia, and was a director of Foodland until last December.
The Wesfarmers link comes up again in the case of Trevor Eastwood.
He spent most of his working life at Wesfarmers, rising to be managing director for eight years until 1992.
He then took a number of prominent board roles, including chairman of West Australian Newspapers and a director of Qantas.
Mr Eastwood’s current roles include those of chairman at Wesfarmers and as a director of Stan Perron’s privately owned property group.
Neil Hamilton has had a quiet year in 2005, which would be a welcome break after the turmoil of 2004.
He took over as chairman of Western Power after the February 2004 power crisis and became chairman of listed mining company Sons of Gwalia shortly before it went into administration.
He also completed the sale of his listed investment company, Chieftain Securities, and retired as chairman of LandCorp and D’Orsogna.
Mr Hamilton’s continuing board roles include Western Power, Integrated and IRESS Market Technology.
Other prominent directors include former BankWest boss Warwick Kent, who is chairman of West Australian Newspapers and Coventry Group and a director of the Commonwealth Bank and Perpetual.
Fiona Harris has accumulated a growing number of board positions, and currently is a director of Alinta, Portman, HBF Health Funds and NM Rothschild (Australia).
Jenny Seabrook is also prominent, as an executive director at corporate advisory firm Gresham Partners and as deputy chair of Western Power.
Ian Mackenzie is chairman of mineral sands miner Iluka Resources and BankWest, though the latter role has become less important since BankWest became wholly owned by UK bank HBOS.
Former Premier Richard Court has several board and consulting roles, including being a director of GRD and chairman of its engineering subsidiary, GRD Minproc.
COMPANY DIRECTORS
• Michael Chaney
Managing Director: Wesfarmers (until July 12).
Chairman-elect: National Australia Bank.
Director: BHP Billiton.
• Tony Howarth
Chairman: Alinta, St John of God Health Care, Home Building Society.
Director: Mermaid Marine.
• John Poynton
Executive Chairman: Azure Capital.
Director: Alinta, Austal, Multiplex.
• Peter Mansell
Chairman: Zinifex, JDV, Ferngrove Vineyards, Alocit International.
Director: WA Newspapers, Bunnings Property Trust, Foodland, Tethyan Copper.
• Trevor Eastwood
Chairman: Wesfarmers.
Director: Perron Group.
• Erich Fraunschiel
Director: Woodside, WorleyParsons, WA Newspapers, Rabobank Australia.
• Neil Hamilton
Chairman: Western Power, Integrated, IRESS Market Technology.
Director: Insurance Australia Group.
• Warwick Kent
Chairman: WA Newspapers, Coventry Group.
Director: Commonwealth Bank, Perpetual.
