2015 marks a significant change in direction for Transfield Holdings. Since its inception in 1956, the company has been the exclusive active business investment vehicle for the Belgiorno-Nettis family. Today, Luca and Guido Belgiorno-Nettis announce that they have decided to manage their business interests differently: Transfield Holdings will be just one of the vehicles for their respective investment activities in the future.
This decision has been informed by broader family succession planning considerations, as well as the increase in liquidity following Transfield Holdings’ exit from a number of mature businesses.
As from today, the ongoing activities of Transfield Holdings will be overseen by Luca and Guido Belgiorno-Nettis as Managing Directors. Existing investments, such as Sydney Harbour Tunnel, Perisher and Novatec Solar will be managed by a small core team reporting to Luca and Guido Belgiorno-Nettis. Future investment opportunities considered appropriate for Transfield Holdings will be assessed by each of the Managing Director’s respective advisors and the core Transfield Holdings team.
On making this announcement, Luca and Guido Belgiorno-Nettis acknowledge the extraordinary individual contributions of all of Transfield Holdings’ talented and dedicated staff and advisors, both past and present. They particularly wish to acknowledge Nicholas James for his tireless efforts over the last nine years, firstly as CFO and more recently as CEO.
Finally, Luca and Guido Belgiorno-Nettis’ thanks go to the Transfield Holdings Advisory Board, David Gonski, Glenn Fraser and Michael Carapiet, as well as Family Council advisor Jon Isaacs, for their invaluable advice.
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Stephen Bradley
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