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Perpetual CFO resigns

Krystine Lumanta  |  06 Nov 2012Text size  Decrease  Increase  |  

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Krystine Lumanta is a journalist with InvestorDaily, a Sterling publication.

 

Roger Burrows has announced his resignation from his position as chief financial officer with independent financial services group, Perpetual Limited (PPT).

Burrows, whose strong financial management "ensured Perpetual's good financial health", will finish up with the company in early 2013.

He had accepted a role at Asciano Limited (AIO), a national rail freight and ports operator.

Perpetual has begun an executive search process in order to find Burrows' replacement. Both external and internal candidates are up for consideration.

"As a member of my executive leadership team, Roger worked on defining our strategic direction, Transformation 2015, and ensuring that our business units are performing and contributing to the overall success of the group," Perpetual chief executive and managing director Geoff Lloyd said in a statement to the Australian Securities Exchange.

At its annual general meeting last week, the company announced its new strategy would "create a simpler, leaner and more efficient structure and refocus on activities where it has a substantial competitive advantage".

In addition, efforts to simplify Perpetual's management structure and aggressively manage central costs resulted in a significant reduction in staff roles.