Page 6 - Australasian Paint & Panel July-August 2019

NEWS
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8 Holden Monaro project • 10 MTA Award winners • 12 Car Craft continues growth • 14 More gold for Car Craft
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PAINT&PANEL JULY / AUGUST 2019
S.M.A.R.T SALE
WWW.PAINTANDPANEL.COM.AU
GREG WALL RECEIVES AM
CAPRICORN GROUP CEO GREG WALL ON
receiving the honoured Member of the Order of Australia (AM) Award for his significant service to business and the community.
Along with having led Capricorn to re- cord high levels of business success over the past eight years as the cooperative’s first ever Group CEO, Wall is also a direc- tor and founding chairman of the Busi- ness Council of Co-operatives and Mutu- als. Wall has been involved with co-operative and mutual businesses throughout his working career that spans almost four decades, leading the sector’s most significant period of resurgence.
Aligned with Wall’s outstanding leader- ship of Capricorn, which included a com- plete re-structure of all areas of Capri- corn’s business, he has also been pivotal in the growth and success of the BCCM.
Wall is also recognised internationally as the first Australian to be elected to the International Co-operative Alliance (ICA), the peak global body representing co-op- eratives and mutuals worldwide.
According to Capricorn’s new Group CEO (effective July 1), David Fraser, this is a deserving accolade for a truly outstand- ing individual.
“To say that we are incredibly proud to have our Group CEO of the past eight years receive a Member of the Order of Australia (AM) Award is an understate- ment. Greg has been at the helm of not only the Capricorn business during sever- al years of unprecedented growth, but he has also been a relentless champion for both the Australian and the global co-op- erative movement. I couldn’t think of a more fitting way for all involved to show their appreciation for his dedication and enthusiasm than this.”
CCORDING TO STREET TALK IN
the Financial review Suncorp is offering to underwrite a minimum volume through Cap- ital S.M.A.R.T as an added incen-
tive to buyers.
Suncorp said the sale of Capital
SMART will come with a 25-year con- tract that would ensure the insurer's re- ferrals into the network plus a minimum level of business.
The contract, which includes a fixed- year term and two five-year options, was detailedinaflyersenttopotentialbuyers by Luminis Partners, which was tasked to run a two-part auction for the second- biggest player in Australia’s autobody re- pair market, Street Talk reported.
The flyer, released at an auction for
Capital SMART following a long-run- ning strategic review, included an eight- point pitch, detailing: the size of the re- pairs market ($5.2 billion a year) and its underlying growth; Capital SMART's position as a leading player; the busi- ness' industry-leading efficiency; base volumes supported by Suncorp; the company's platform for growth; its high- ly cash-generative business; an expan- sion plan and history opening new sites, and its strong management team.
It also informed interested parties that thebusinessmakesabout$30milliona year at the EBITDA line, though it didn’t contain details of the business’ finances.
There was no confirmed news as to which company has been successful in se- curing Captial SMART as we went to press.
CAMERON EXITS SUNCORP
SUNCORP’S CEO AND MANAGING DIREC-
tor Michael Cameron will be leaving the company after almost four years in the role. Suncorp's says that Cameron 'has led a significant digital transformation of Sun- corp, an enterprise-wide focus on the customer and navigated the business through a period of unprecedented regu-
latory change'.
Chairman Christine McLoughlin said
that while Cameron had made a consid- erable contribution, now was the right time for change. This will provide the opportunity for the company to enhance its performance in a highly competitive and challenging external environment
as Suncorp seeks to strengthen its core businesses by focusing on its customers, products and brands.
In the interim, the Board has appointed Group CFO Steve Johnston as Acting CEO.