According to an article by The Australian, life for Fairfax chief executive Greg Hywood and his chairman Nick Falloon may have become even more ominous after billionaire Alex Waislitz’s surprising intervention, since the recent departure of Antony Catalano from Domain.
Falloon’s fingerprints are all over the precipitation of that event and its subsequent handling, including the decision to not recognise Catalano for his tenure at Domain during the January 22 ASX statement that announced his departure.
Rumor has it, although it’s been denied by Fairfax, that Hywood’s position is closer to billionaire investor Waislitz, who yesterday afternoon told The Fin that Falloon should stand down as chairman of Domain. Surprisingly, Waislitz also lobbied for bringing back Catalano.
“Could he come back? I’m not sure. Would he come back? I’m not sure,” Waislitz told The Fin’s John Stensholt.
Waislitz — who had his good friend Catalano along at his 60th birthday in Melbourne on Saturday — made it clear he was not impressed with Falloon’s handling of the summer surprise.
Catalano was Hywood’s most famous hire and direct report for over four years, as well as his close friend.
Hywood also led the roughly $105 million acquisition of Catalano’s suburban property play MMP in 2011 — probably the most successful decision of the Fairfax CEO’s almost eight-year reign.
The above article was sourced in part from The Australian.
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