Business
Virgin sacrifice: boardroom bloodletting signals a classic private-equity hijacking – The Conversation AU
In pushing out Virgin Australia’s chief executive Paul Scurrah, new owner Bain Capital has signalled more cost-cutting is on the cards.
US private equity firm Bain Capital wont formally assume control of Virgin Australia until November. But its coup this week against chief executive Paul Scurrah, dumping him for Jayne Hrdlicka, a former Bain employee with a reputation for toughness, signals the start of a classic private equity smash-and-grab operation.
When Virgins administrators and creditors formally accepted Bains bid for the stricken airline, they did so in part due to undertakings job losses would be minimised. Administra…
-
General18 hours agoEnglish springer spaniels Kelly and Milo helping fight dieback in Western Australia
-
General7 hours agoHow the internet reacted to Brisbane Broncos winning the NRL grand final
-
Noosa News14 hours agoMega-team of heavy horses sets world record at Good Old Days Festival
-
Noosa News7 hours agoNRL grand final quick hits: Reece Walsh creates magic after avoiding sin bin as Broncos survive Hunt, Reynolds injuries to win premiership