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

Arrows pointing upwards with a man pointing his finger at one.
52-Week Highs

7 ASX All Ords shares smashing new 52-week highs on Tuesday

Do you own any of these stocks at new highs today?

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Share Market News

Why the ASX 200 is primed to soar another 8% in 2024

This leading asset manager sees the stars aligning for the ASX 200 to soar into 2025.

Read more »

A woman makes the task of vacuuming fun, leaping while she pretends it is an air guitar.
Opinions

3 compelling ASX shares for investors in their 20s

I think these stocks have lots of growth potential.

Read more »

A man in business suit wearing old fashioned pilot's leather headgear, goggles and scarf bounces on a pogo stick in a dry, arid environment with nothing else around except distant hills in the background.
Opinions

Bear to bull: The ASX shares that could bounce back the strongest

These stocks have fallen hard, I’m optimistic they can make good returns.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Tuesday

Another good session is expected for Aussie investors today.

Read more »

Woman in a hammock relaxing, symbolising passive income.
ETFs

3 reasons the iShares S&P 500 ETF (IVV) is a great long-term investment

The US share market is a compelling place to invest.

Read more »

An older couple hold hands as they bounce happily high in the air.
Opinions

3 ASX stocks to benefit from Australia's ageing population

Ageing demographies is a strong tailwind.

Read more »

Smiling man working on his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to the races for ASX shares today, in a confident start to the week.

Read more »