Business
What we learnt: TWE’s US hangover, Breville’s debt, Telstra’s pay – The Australian Financial Review
Tim Ford made a bright start as Treasury CEO, but the big fixes lie ahead. Breville and AGL eye bad debts, while Telstra shuts eyes with its pay report.
Its a significant decision that will set us up for the next five, 10, 15 years potentially. Its a decision we want to get right, he says.
Besides, separating Penfolds requires the US division to be in good shape.
The broad plan is to shift away from cheap wine (or commercial wine as its known in the sector) towards the nine luxury and mass-prestige brands (above $US10 in price) that pay the bills.
By selling or shutting cheaper brands and wineries, Ford sees a future where the US business had…
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