Qantas board holds back short-term bonus as ACCC case continues. Transurban shares dip as outgoing CEO heads Sydney Airport. Follow for more updates.
First it was the capital drain pushing long-life assets into private capital hands and away from the ASX boards.Scott Charlton jumping to Sydney AirportNo longer does a Top 20 company chief executive have to look offshore for a new challenge, or swallow his or her pride by moving to a significantly smaller listed company. Private capital has a growing war chest of assets and needs experienced executives to run still big businesses operating away from the ASX’s bright lights.
Sydney Airport is as big as it gets in the private capital world. Its $32 billion takeover spearheaded by IFM Investors and Global Infrastructure Partners and backed by big super’s money was Australia’s biggest take-private by private capital buyers. Charlton is close to as big a big name CEO as you can get. The tall and shiny banker ran Transurban, now the 16th biggest company on the ASX, for 11 years before he or the board decided it was time for a change. Charlton was quick to tell those close to him that he wasn’t done yet – the 59-year-old wanted another CEO gig.
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