Transurban (ASX:TCL) share price wobbles on new CFO announcement

The Transurban Group (ASX: TCL) share price is relatively flat today despite the company announcing a change in the management team.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Transurban Group (ASX: TCL) share price has been wobbly in morning trade despite the company announcing a change in the management team. At the time of writing, the toll road operator's shares are inching up 0.43% to $14.06.

What did Transurban announce?

Transurban advised it has appointed Ms Michelle Jablko as the new chief financial officer.

Ms Jablko will leave her role as chief financial officer with Australia and New Zealand Banking Group Ltd (ASX: ANZ). Having held that position since 2016, Ms Jablko was also a member of the bank's executive committee.

Ms Jablko has developed her skills across large and multinational organisations and brings a wealth of experience to Transurban. Her core competencies involve capital efficiency and allocation, as well as taking lead on merger and acquisition deals.

Prior to her role at ANZ, Ms Jablko spent most of her career in investment banking, most notably working for UBS and Greenhill Australia. In the latter, she held the role of managing director.

In her early career, Ms Jablko was employed by Allens Linklaters, which focuses on mergers and acquisitions, banking, tax and finance law.

Ms Jablko will join the Transurban team in the new year and be based in its offices in Melbourne, Victoria.

CEO commentary

Transurban CEO, Mr Scott Charlton, spoke highly about Ms Michelle Jablko and the new appointment:

We are delighted that Michelle will be joining Transurban Group and I believe that with her leadership, capabilities and experience she will make a significant contribution to the Transurban business.

About the Transurban share price

The Transurban share price has almost recovered to pre-COVID-19 levels. Its shares are currently down just under 10% from their 52-week high of $16.44 in January. However, since the beginning of June, the Transurban share price has mostly stagnated.

The company has a current market capitalisation of $38.2 billion.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Winning woman smiles and holds big cup while losing woman looks unhappy with small cup.
Share Gainers

Here are the top 10 ASX 200 shares today

Another day, another loss for investors.

Read more »

a woman in a wheelchair sits at her desk in her home with headphones on and looking at a computer screen of figures. monitoring the CBA share price
Share Market News

Top 10 ASX shares bought and sold in April

Amid the fuel crisis and fears of a recession, here are the stocks that investors traded most.

Read more »

A smiling woman holds a Facebook like sign above her head.
Broker Notes

5 ASX shares scoring upgraded ratings this week

Experts have raised their ratings on JB Hi-Fi, Beach Energy, Amcor, and others this week.

Read more »

A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.
Share Market News

Should I sell my Telstra shares in May?

If I owned Telstra shares, here's what I'd do next.

Read more »

Magnifying glass on a rising interest rate graph.
Share Market News

Buying ASX shares? Here's what to expect from Tuesday's RBA interest rate meeting

Leading experts sound off on the RBA’s likely next interest rate move.

Read more »

A man sitting at his dining table looks at his laptop and ponders the share price.
Broker Notes

Down 65%: Is this ASX 300 stock a cheap buy?

This stock has been sold off. Has this created a buying opportunity? Let's see what Bell Potter is saying.

Read more »

Three guys in shirts and ties give the thumbs down.
Broker Notes

5 ASX All Ords shares downgraded by brokers this week

Brokers have reduced their ratings on PLS Group, Fortescue, Webjet, and others this week.

Read more »

A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.
Broker Notes

Does Ord Minnett rate Goodman shares as a buy, hold, or sell?

The broker has been looking at a big agreement signed this month.

Read more »