Arrivals which sent the share price soaring


February 1, 2010

Comings and goings of directors and executives at public companies can often cause sharp share price movements. This list tracks arrivals which sent the share price soaring.


1. John Fletcher - Coles Myer (hired)
When Fletcher was announced as the new CEO of Coles Myer in August 2001, Coles' market cap jumped $1bn with their shares soaring 86c or 13.7%. Just for good measure the shares went up another 1.9% the next day.

2. Peter Smedley - Mayne Nickless (hired)
When Smedley took over as CEO in June 2000 Mayne's market cap soared $140m - the biggest one day gain in a decade. The shares jumped 33c or 11.2% followed by a 6% jump the next day. Smedley's other great effort was to drive the shares up 9% when he left Mayne! See below.

3. Neil Gamble - Solution 6 (hired)
The market's initial reaction to the appointment of ex-Star City boss Neil Gamble (on 21 August 2000) was to mark the shares up 20c or 6%, so he certainly makes this list. However we were extremely tempted to include him on the list of 'arrivals to send the market plummeting' because the very next day of trading, Solution 6's shares were slashed by 29c or 8.4%. Consider yourself lucky Neil.

Check out all the Mayne Report business lists here. Go here to see the full comprehensive list of lists we've created documenting the dominance of foreign investors in Australia and our relative poor performance on the international business stage.