News Articles for Michael Chaney

Wesfarmers has more than quadrupled its full-year profit to a record $5.51 billion, on the back of post-tax gains of $3.17 billion on the demerger of Coles and other divestments during the year.

The attributes needed to build a good working relationship are the same in school settings as they are in business, says Wesfarmers chairman Michael Chaney.

Wesfarmers has appointed a Perth-based company director and member of the Takeovers Panel to its board as a non-executive director.

Andrew and Nicola Forrest's Minderoo Foundation has pledged up to $2 million to The Nature Conservancy to undertake a series of activities to improve the Swan-Canning Estuary's health, including the restoration of lost shellfish reefs.

Wesfarmers has appointed mergers and acquisitions expert Mike Roche to its board as it seeks out fresh opportunities, after offloading Coles and exiting the UK hardware market.

ANNIVERSARY SPECIAL: WA companies have been on the receiving end of nearly every major takeover completed during the past two decades, with Wesfarmers a notable exception. This article is part of a special series to mark Business News' 25-year anniversary.

Wesfarmers shareholders have voted to approve the $20 billion demerger of its supermarket business Coles, 11 years after it acquired the group in Australia's biggest corporate takeover.

ANNIVERSARY SPECIAL: From those who risked their own capital to the corporate cowboys of WA Inc and the ‘hired help' of today, WA's corporate story features many powerful personalities. This article is part of a special series to mark Business News' 25-year anniversary.

Woodside Petroleum chairman Michael Chaney has said there's a risk that major energy players may be dissuaded from investing into Western Australia if company tax reform is stalled, as the business closes in on a tolling deal for gas from the Browse field.

Perth property developer Nigel Satterley is confident of an early breakthrough in the campaign he has spearheaded with other business leaders for a better deal for Western Australia over the distribution of GST revenue.

Former Wesfarmers boss Trevor Eastwood has stayed out of the limelight since exiting Perth's corporate scene, but has broken his silence to publicise his largest-ever philanthropic donation.

About 18,000 local businesses and key leaders have backed the Chamber of Commerce and Industry of WA's GST reform submissions, which were put forward to the Productivity Commission today.

Former High Court chief justice Robert French will succeed Michael Chaney as chancellor of the University of Western Australia at the end of the year.

Business News sat down to lunch at Julio's with Michael Chaney to discuss his career at Wesfarmers and beyond.

Finance director Terry Bowen will become the third top Wesfarmers executive to retire from the Perth-based conglomerate in the space of 12 months, with the group announcing three senior appointments along with details of incoming managing director Rob Scott's remuneration package.

Woodside Petroleum's boss received lower pay in 2016 despite the energy giant posting a surge in profitability, after the company restructured executive pay following a shareholder vote.

Outgoing Wesfarmers boss Richard Goyder has been revealed as successor to Michael Chaney as chairman of energy giant Woodside Petroleum, a week after we was named the next chairman of the AFL.

Incoming Wesfarmers managing director Rob Scott, who will formally take his new job late this year, says the business will continue to thrive on the back of its diversity across markets.

Wesfarmers managing director Richard Goyder will step down this year after more than 12 years in charge of the company to be replaced by his deputy, Rob Scott.

Dawn Freshwater has been named vice-chancellor of the University of Western Australia, filling the role left vacant when Paul Johnson departed the institution last year.

Donald Trump's surprise victory in the US election two weeks ago is already having ramifications for world trade, with his confirmation today he will withdraw from the Trans Pacific Partnership likely to spark a recalibration of plans among nations in the region.

Former Howard and Abbott government minister Ian Macfarlane has been appointed non-executive director of Woodside.

Wesfarmers chairman Michael Chaney has criticised US President-elect Donald Trump's threat to end the Trans-Pacific Partnership (TPP) free trade deal, saying restricting free trade causes economic stagnation.

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

In the first of a series of interviews with top WA business leaders, Business News met with inaugural 40under40 First Amongst Equals winner and Macquarie Group chairman (WA) Mark Barnaba. Far from the boardroom, in the relaxed setting of Julio's restaurant in West Perth, Mr Barnaba spoke of his education, mentors, leadership style, culture, diversity, and social media.

Woodside Petroleum has received a first strike against its remuneration report, with about 27.6 per cent of shareholders voting against it, while chairman Michael Chaney has flagged he may not step down at the next AGM as previously suggested.

SPECIAL REPORT: The number of women serving on company boards is slowly one the rise, but it's still rare to see a female take the chair, judging by Business News's analysis of Western Australian company directors.

Energy giant Woodside Petroleum has bolstered its board with the appointment of a former Shell executive, while Dacian Gold has welcomed a prominent lawyer to its board.

A unique Western Australian project aimed at challenging the perception that philanthropy is the preserve of a wealthy elite has facilitated its first major donation.

The contrasting fortunes of the Bunnings and Masters hardware businesses reflect the broader performance of their relative corporate owners.

For as long as I can remember, I've asked the Wesfarmers leadership when they would look at an international expansion.

As one of WA's most influential directors, when Michael Chaney talks, the business community listens.

Wesfarmers chairman Michael Chaney has disagreed with Reserve Bank of Australia Governor Glenn Stevens' view that big companies have not reduced hurdle rates for investment decisions amid falling interest rates, in an address at this morning's Business News Success & Leadership breakfast.

Wesfarmers' incoming chairman Michael Chaney will inherit challenging conditions in the conglomerate's industrial and resources division, but continued solid earnings from its retail businesses including Coles and Bunnings.

Top Western Australian publicly listed companies with fewer women on boards than the national average may get the boost they need following the launch of a new club.

Politics and academia are a volatile mix, as the handling of the Bjorn Lomborg initiative at UWA has shown.

Michael Chaney's return to Wesfarmers confirms his standing as the most influential company director in WA. Click through to see our listing of the 12 Most Influential company directors in WA.

The ‘iron ore wars' and budget battles are defining where power and influence lies in business and politics in WA. Read our latest Most Influential feature to see who is on the rise, whose influence is waning and who has dropped off the list.

Michael Chaney will take the role of chairman of conglomerate Wesfarmers when Bob Every retires at the company's next annual general meeting in November.

Former federal Treasury secretary Ken Henry will take the helm of National Australia Bank's board when chairman Michael Chaney retires at its next annual general meeting in December.