Gary Toomey For The Chop ????
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Gary Toomey For The Chop ????
BUSINESS
TUESDAY, 02 OCTOBER 2001
B U S I N E S S S T O R Y
Toomey to be replaced - Australian report
02 October 2001
SYDNEY: Air New Zealand chief executive Gary Toomey is likely to be replaced this week as part of a management shake-up at the embattled airline, the Sydney Morning Herald newspaper reported today.
Sources in the airline's head office in Auckland told the newspaper that Mr Toomey and a number of executives who followed him from Qantas to Air New Zealand were "on the chopping block".
The sources said Andrew Miller, considered the best of the executive team, would take over as chief executive.
Mr Toomey, who joined the airline in January after a successful stint as Qantas' chief financial officer, was appointed by the then Air New Zealand chairman Sir Selwyn Cushing.
The paper said it was understood one of the airline's major shareholders, Singapore Airlines, was not keen on the appointment.
On joining Air New Zealand, Mr Toomey brought with him a team of 15 executives.
Two former Qantas executives, Kevin Turnbull and Adam Maro, have won praise but another, George Frazis, who was in charge of strategy, was expected to go with Mr Toomey as part of the shake-up.
The executive cuts were to be announced this week along with an overall trimming of staff and operations as the airline cuts services to the United States, one of its biggest markets.
Air New Zealand shares, which were suspended on Friday, remained suspended today as the Stock Exchange's Market Surveillance Panel seeks more information about the company's financial state.
TUESDAY, 02 OCTOBER 2001
B U S I N E S S S T O R Y
Toomey to be replaced - Australian report
02 October 2001
SYDNEY: Air New Zealand chief executive Gary Toomey is likely to be replaced this week as part of a management shake-up at the embattled airline, the Sydney Morning Herald newspaper reported today.
Sources in the airline's head office in Auckland told the newspaper that Mr Toomey and a number of executives who followed him from Qantas to Air New Zealand were "on the chopping block".
The sources said Andrew Miller, considered the best of the executive team, would take over as chief executive.
Mr Toomey, who joined the airline in January after a successful stint as Qantas' chief financial officer, was appointed by the then Air New Zealand chairman Sir Selwyn Cushing.
The paper said it was understood one of the airline's major shareholders, Singapore Airlines, was not keen on the appointment.
On joining Air New Zealand, Mr Toomey brought with him a team of 15 executives.
Two former Qantas executives, Kevin Turnbull and Adam Maro, have won praise but another, George Frazis, who was in charge of strategy, was expected to go with Mr Toomey as part of the shake-up.
The executive cuts were to be announced this week along with an overall trimming of staff and operations as the airline cuts services to the United States, one of its biggest markets.
Air New Zealand shares, which were suspended on Friday, remained suspended today as the Stock Exchange's Market Surveillance Panel seeks more information about the company's financial state.
Don Quixote Impersonator
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Back to the good old witchcraft days eh.
Burn em at the stake, if they survive then they are witches, if they don't then they weren't.
Sounds like the sort of logic, Air NZ/SQ would use.
I'm sure SQ weren't all that happy with his appointment anyway, as they knew he knew up to what they were.
I reckon he did a pretty good job of defending the indefensible and hanging in there as long as he did.
It must have taken great courage in the few weeks after he started, had a good look at the books, found he was staring into an abyss and not to run... run very fast.
Burn em at the stake, if they survive then they are witches, if they don't then they weren't.
Sounds like the sort of logic, Air NZ/SQ would use.
I'm sure SQ weren't all that happy with his appointment anyway, as they knew he knew up to what they were.
I reckon he did a pretty good job of defending the indefensible and hanging in there as long as he did.
It must have taken great courage in the few weeks after he started, had a good look at the books, found he was staring into an abyss and not to run... run very fast.
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Gaunty: Like you, I originally thought that GT had been given the rough end of the pineapple but, after reading this thread, I'm beginning to wonder.
Why did he bring 15 people from QF with him?
Was there really so little local expertise available?
Did he leave QF with a hidden agenda?
Why, as Fox Fire says, did he resign so quietly from AN's board?
Why did he repeatedly reassure all of us at AN that he was working hard for our future, when it must have been obvious to him what the only possible outcome would be?
I understand that, as an interested party, my view is somewhat biased, but the old saying is still true: "Just because I'm not paranoid doesn't mean they're not out to get me".
Kind regards,
TheNightOwl.
Why did he bring 15 people from QF with him?
Was there really so little local expertise available?
Did he leave QF with a hidden agenda?
Why, as Fox Fire says, did he resign so quietly from AN's board?
Why did he repeatedly reassure all of us at AN that he was working hard for our future, when it must have been obvious to him what the only possible outcome would be?
I understand that, as an interested party, my view is somewhat biased, but the old saying is still true: "Just because I'm not paranoid doesn't mean they're not out to get me".
Kind regards,
TheNightOwl.
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And you can bet the size of his redundancy package will be substantial and protected from any insolvancy of ANZ.
To ANZ staff, SIT on THE BICKY TIN LID or there wil be nothing left for you.
To ANZ staff, SIT on THE BICKY TIN LID or there wil be nothing left for you.
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Quite frankly, it couldnt happen to a nicer person, I had the extreme displeasure of having him as a passenger on my flights several times, before he left QF - never have I had a ruder, more demanding, duty staff passenger on board in my 8 years of flying - good riddence to bad rubbish 
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Perhaps GT has been working for QF all
along??
He has handed the Australian Market to
Dixon on a plate, for which I am sure he will be forever grateful.
They may even give him a performance
Bonus! NOT.
Life is sweet indeed!!
along??
He has handed the Australian Market to
Dixon on a plate, for which I am sure he will be forever grateful.
They may even give him a performance
Bonus! NOT.
Life is sweet indeed!!
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The interesting thing of course is Jim F is backing him as head of the current Air Nz board but wait... The NZ government will have roughly 80 % of the shares in three months. Me thinks the entire board will get the shaft along with any Aussies left in the line up. Thanks for all your help boys....
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The Reaper:- That was precisely the point I was making earlier, only I was trying to be a little more diplomatic in my approach. Like LAME, I abhor the thought of upsetting anyone!!
Regards to all,
TheNightOwl.
Regards to all,
TheNightOwl.
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Well all of you that think Toomey is going to get it in the neck think again...
While Chucky "Chainsaw" Goode has resigned from the Air New Zealand board.. Toomey remains to wreck havoc, and protect the one particular Australian bank interest..
Now figure this out..
Chucky Goode - Chairman ANZ Bank, Ex Director Air New Zealand
Gary Toomey - Director ANZ Bank, prime Assassin Ansett Mk1 and Assassin at work with Air New Zealand.
Margaret Jackson - Director ANZ Bank AND Chairperson QANTAS!
While ANZ Bank has reported to the ASX it has only a $50 Million exposure to Ansett, the exposure to Air New Zealand is substantially more...
So when its all over Gary can go back to being a bastard banker or (is that W-anker) on the ANZ Bank board.
Maybe he is on a fast track to becoming Chairman of ANZ Bank after all we know that all successful bankers need to be well in destroying the little people and screwing your customers into the ground..
[ 04 October 2001: Message edited by: 100below ]
While Chucky "Chainsaw" Goode has resigned from the Air New Zealand board.. Toomey remains to wreck havoc, and protect the one particular Australian bank interest..
Now figure this out..
Chucky Goode - Chairman ANZ Bank, Ex Director Air New Zealand
Gary Toomey - Director ANZ Bank, prime Assassin Ansett Mk1 and Assassin at work with Air New Zealand.
Margaret Jackson - Director ANZ Bank AND Chairperson QANTAS!
While ANZ Bank has reported to the ASX it has only a $50 Million exposure to Ansett, the exposure to Air New Zealand is substantially more...
So when its all over Gary can go back to being a bastard banker or (is that W-anker) on the ANZ Bank board.
Maybe he is on a fast track to becoming Chairman of ANZ Bank after all we know that all successful bankers need to be well in destroying the little people and screwing your customers into the ground..
[ 04 October 2001: Message edited by: 100below ]
