Mirvac (ASX: MGR) announced Friday that it has appointed Shane Gannon as its new CFO, a role the company has had hiccups filling over the last year. After the company’s eight-year CFO Justin Mitchell left last July, its latest financial officer, Greg Dyer, departed in April after just eight months on the job.
Mirvac CEO Susan Lloyd Hurwitz seems confident about Mirvac’s latest pick, citing Gannon’s previous CFO positions and property sector experience as primary reasons for his “strong fit” for the role.
“With over 30 years experience as a finance professional, Shane has successfully managed corporate finance and capital management functions and has overseen extensive corporate restructuring and several corporate transactions,” said Lloyd Hurwitz in a statement. “His breadth of experience across sectors, his strong financial acumen and his demonstrated understanding of domestic and international financial markets will be of great value to Mirvac as we continue to execute on our strategy and deliver strong returns to security holders.”
For the past two years, Gannon has served as CFO for Goodman Fielder (ASX: GFF). Before that, he held the CFO position at CSR (ASX: CSR), and also worked in various financial positions at Lend Lease (ASX: LLC) for ten years.
Corporate management mix-ups can be messy, but dividends can offer stable profits for year to come. Get “3 Stocks for the Great Dividend Boom” in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!
- Lend Lease builds a $553 million profit
- Mirvac 2013 profit pulls ahead of estimates despite $273 million hit
Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.