Winton upheaval: Chief financial officer follows chair, director out the door
Property development firm Winton is facing significant leadership instability following the resignation of its CFO, which occurred just one day after the chair and a director stepped down. These departures follow a fundamental misalignment with majority shareholder Chris Meehan, who is also dealing with past allegations of aggressive behavior.
Why it matters
The mass exodus of senior leadership at a publicly listed company signals deep governance issues and potential instability for investors.
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Winton chair Steven Joyce resigned following a "fundamental misalignment" with majority shareholder and former CEO Chris Meehan (inset). Chief financial officer Jean McMahon (inset) has announced her own resignation. Photos: Michael Craig, supplied
Property development firm Winton is losing its chief financial officer - her resignation comes just 24 hours after the firm’s chair and one of its directors announced their departures.
Jean McMahon will leave the firm in November, the NZX-listed company announced today.
No reason was given for her resignation after eight years at the business.
The company is facing major upheaval as it searches for a new chief executive and now a new chief financial officer.
Chairman Steven Joyce and director Guy Fergusson announced their resignations yesterday, citing a “fundamental misalignment” with majority shareholder and former CEO Chris Meehan.
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