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( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 3:42 pm

BUSINESS

TUESDAY, 02 OCTOBER 2001
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".

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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.

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Hoppy
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 3:58 pm

I thought Toomey and SIA were good partners? Obviously not.
Anyone can fly, only the best Soar.
 
rmm
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 5:11 pm

The ultimate Qantas conspiracy theory (LOL). A ceo and a group of ex QF directors sent on a mission to destroy AN/NZ???

Rmm
 
TG992
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 5:21 pm

As an NZ employee, I think it's a shame.

Gary joined only to be faced with a situation that wasn't of his own making..

1/ 767 groundings/AN undermaintenance discoveries
2/ DJ/Impulse offering unsustainably low fares
3/ AN losing money hand over fist
4/ AN needing a hugely expensive fleet upgrade
5/ NZ government's dithering over SQ increasing their stake
6/ Fuel prices skyrocketing
7/ The tragic events of September 11

All these happened after he joined and in my mind AN was unsaveable after the NZ government's dithering over SQ. We saw Gary repeating until he was blue in the face that SQ taking an increased stake was necessary, only to be ignored by landlubber politicians who thought they knew better.

I hope he stays on, but doubt it, unfortunately  Sad
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 7:56 pm

Gary, you are the Weakest Link, Goodbye!

Seriously, I too think its a shame that he has fallen victim to the circumstances... Still, such is the risk you take being a CEO... after all, 'the buck stops here'.

Good Luck Gary, we'll miss you, and don't let the door hit you on the way out...
"So powerful is the light of unity that it can illuminate the whole earth." - Bahá'u'lláh
 
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 8:29 pm

He will be gladly greeted back in Australia by 17,000 Ansett Employees who would dearly love to get there hands on him.As far as ANZ goes good bye and riddence to rubbish
 
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 9:50 pm


Will Gary Toomey be knocked down for every executive position he applies for......ABSOLUTELY!
 
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RE: ( NZ)Toomey To Be Replaced - Australian Report

Tue Oct 02, 2001 9:57 pm

i woder if qantas will take pity on him and let him run austrialian airlines?

I think toomey tried in an impossible situation, that clarke women made it difficult for him.e went on and on saying how singapore airlines must increase their stake and that if anz split from ansett then anz would be a small time carrier.

It is amazing what can be accomplised when nobody takes the credit