ANZ chief executive Shayne Elliott will take an axe to the bank’s hierarchies and bureaucracy and shift the workforce into “agile” teams, mimicking the way businesses such as Google, Facebook and Spotify operate, to launch new products faster as the bank grapples with an era of low credit growth. Senior and middle management jobs are at…
ANZ Bank posted a six percent rise in interim net profit Tuesday on the back of restructuring its business to shift the emphasis away from Asia and onto its core assets. The Australia and New Zealand Banking Group’s result for the six months to March 31 came in at Aus$2.91 billion (US$2.2 billion), while cash…
BLOOMFIELD HILLS, Mich.–(BUSINESS WIRE)–Mackinac Partners, a leading financial advisory, turnaround management and restructuring firm, is pleased to announce the addition of highly accomplished financial and restructuring advisor John Bittner to the firm. Bittner, based in Dallas, joins the firm as Senior Managing Director and will lead Mackinac Partners Southwest Restructuring Practice. He has 25 years…
Alphabet Inc CEO Larry Page stated that the holding corporate structure for search system Google and a host of new businesses has been successful in developing more transparency for investors. As the two-year anniversary of Alphabets business restructuring approaches, Page wrote in a letter to investors that the model has empowered business owners outside its…
Sharp Corp. said Friday it posted its first operating profit in three years in the business year that ended March 31, helped by restructuring efforts under Taiwanese parent Hon Hai Precision Industry Co. The electronics maker logged a group operating profit of almost ¥62.5 billion, a turnaround from a ¥161.9 billion loss in fiscal 2015.…
The Royal Bank of Scotlandsaid operating profit before tax hit £713 million in the first quarter this year but it is still being hit by a spate of litigation and restructuring costs.RBS, which is 73% state-owned, said in its Q1 results statement that restructuring costs were £577 million in the quarter, an increase of £339…
A year after announcing a massive company restructuring program, Intel CEO Brian Krzanich said the company is “reaching milestones in transforming from a PC company to one that powers the cloud and billions of connected devices.” “We’re off to a good start in executing against our priorities,” said Krzanich during an earnings call Thursday for…
Larry Page, CEO and Co-founder of Alphabet, participates in a conversation with Fortune editor Alan Murray at the 2015 Fortune Global Forum in San Francisco Thomson Reuters (Reuters) – Alphabet Chief Executive Larry Page said on Thursday the holding company structure for search unit Google and a host of new businesses is working well. As…
Author: Agrokor. License: All rights reserved. ZAGREB (Croatia), April 25 (SeeNews) – Croatia’s troubled food and retail concern Agrokor said on Tuesday it has chosen consulting firm AlixPartners to advise it on the company’s restructuring. AlixPartners was selected after a public call for restructuring consultants, which was also answered by international companies McKinsey, BCG, EY, KPMG…
STOCKHOLMEricsson AB fell to a hefty net loss in the first quarter after booking provisions, write-downs and restructuring costs of 13.4 billion Swedish kronor ($1.51 billion), but said a more focused business strategy should see the company significantly improve its profitability next year. The supplier of wireless-communications gear reported a net loss for the three…