Ex-Wesfarmers CEO Flies Into Qantas Chair
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Richard Goyder, the man who ran Wesfarmers for 12 years will become chair of Qantas - as well as chairing Woodside, and heading up the AFL.
Qantas announced yesterday that Goyder will replace former CRA and Rio Tinto industrial relations hardman, Leigh Clifford as Qantas chairman in October.
Mr Goyder joined the Qantas board in November last year following 12 years as chief executive of Wesfarmers. Leigh Clifford got it wrong when he said in yesterday’s statement “Richard is one of the most experienced business leaders in Australia and an excellent choice to lead the Qantas board into the future.”
From the value destroying takeover of Coles back in 2007, to the move into UK hardware, Goyder has helped destroy more than $4 billion of value in Wesfarmers - well over $1.2 billion in the Homebase debacle in the US to around $2.3 billion in losses, impairments and sackings at Target, to hundreds of millions of dollars at the now sold off Curragh coal mine in Queensland.
Qantas shares fell 2.6% yesterday to $6.16 - not because of the change of chair, but because of the four year highs for global oil prices overnight Wednesday.
Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.
At the AFR he was a finance writer, Finance Editor, News Editor and Chief of Staff. At the Nine Network he was supervising producer of Business Sunday for more than 16 years. He has also written for other online and analogue print publications here and overseas.