- Push-out Score determined
- After about 10 years in the position
- Praise for Segal
- Search for a successor
- Segal said 69 words
(exechange) — Sydney, Australia, August 14, 2019 — Julian Segal, chief executive of Caltex Australia, leaves. As announced by Caltex Australia Ltd. in a regulatory filing published on Wednesday, August 14, 2019, Julian Segal leaves his post as Chief Executive Officer at the transport fuel supplier and convenience retailer company after about 10 years in the role, effective once a formal search and transition process has been completed.
It is the end of an era.
No reason given
In the announcement, Caltex Australia did not explicitly explain the reason for Julian Segal’s move.
Precise information regarding Julian Segal’s future plans was not immediately available.
Caltex Australia said: “Managing Director and CEO, Julian Segal, has informed the Board of his intention to retire and will step down once a formal search and transition process has been completed.”
Share price decline
The announcement follows a decline in Caltex Australia Limited’s share price of 24% since January 2018.
Chaired by Steven Gregg
Caltex Australia Limited is chaired by Steven Gregg.
Steven Gregg has held various roles with ABN AMRO, most recently as Global Head of Investment Banking and the CEO of the United Kingdom. Following this, he was a Partner in the Strategy and Financial Institutions practice at McKinsey & Company in Sydney and internationally.
In the position of CEO since 2009
Julian Segal became CEO of the Company in July 2009.
Julian Segal joined Caltex from Incitec Pivot Limited, a leading global chemicals company, where he served as the Managing Director & CEO from June 2005 to May 2009.
Prior to Incitec Pivot, Julian Segal spent six years at Orica in a number of senior management positions, including Manager of Strategic Market Planning, General Manager – Australia/Asia Mining Services, and Senior Vice President – Marketing for Orica Mining Services.
Julian Segal is a director of the Australian Institute of Petroleum Limited (appointed 1 July 2009).
Julian Segal holds a Bachelor of Science (Chemical Engineering) from the Israel Institute of Technology and a Master of Business Administration from the Macquarie Graduate School of Management.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Caltex Australia and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 33.2019 ($).