The Webjet plan that sparked a fight with big egos and big money
New chief executive Katrina Barry had a chance to turn sentiment at the company's inaugural strategy day on March 19. Six months into the job, and six months after Webjet was spun off by bigger brother Web Travel Group (a newer B2B booking company that swamped its B2C stablemate), she pitched a five-year plan to revitalise the company's 'iconic' brand (Webjet's words, not ours), expand its addressable market, launch a loyalty program and double the value of annual transactions by 2030.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
2 hours ago
- Sydney Morning Herald
Latitude 66 offloads Qld copper for $2M upfront and future upside
Latitude 66 has cashed in on a non-core asset, locking in $2 million in upfront funding by selling its 17.5 per cent stake in the Greater Duchess copper-gold project in Queensland, which it owns with ASX-listed Carnaby Resources. The company has also positioned itself for a further $4 million windfall if the full project changes hands in the coming months. The company has signed a non-binding term sheet with Argonaut Partners and Neon Space to offload its interest, with a baked-in bonus clause. If the entire joint venture is snapped up within 90 days of the announcement, Latitude will receive a further $4 million in cash or the same value in ASX-listed shares, based on the 30-day volume-weighted average price. 'The sale transaction announced today is in line with our strategy to unlock value from our Australian assets.' Latitude 66 managing director Grant Coyle Alternatively, if the new buyers decide to flick the stake onto a third party other than Carnaby, the company could still bank 50 per cent of any upside above $4 million, giving the deal serious contingent kicker potential. Under the joint venture terms, Carnaby has been formally offered the same deal under a right-of-first-refusal clause. It now has 30 days to match the terms and acquire Latitude's share itself. If Carnaby exercises its right, Argonaut and Neon Space will be compensated with 7.5 million unlisted options in Latitude, exercisable at 7.5 cents and valid until June 2028. Latitude 66 managing director Grant Coyle said: 'The Greater Duchess joint venture is a non-core asset and the sale transaction announced today is in line with our strategy to unlock value from our Australian assets. This transaction is well timed to provide Lat66 with near term, non-dilutive funding that will enable the company to continue advancing its Finnish and Western Australian projects.'
Sky News AU
2 hours ago
- Sky News AU
Domino's Pizza CEO Mark van Dyck calls it quits after eight months as share prices fall dramatically leaving company in strife
The CEO and managing director of Domino's, Mark van Dyck, has made a shock departure from the popular food chain after just eight months at the helm. His resignation comes as Domino's shares plummeted to 17.6 per cent since the stock market opened at 10am, adding to the company's share losses of 50 per cent over the last 12 months. Mr van Dyck is due to leave the company on December 23, after he replaced Domino's long-term chief executive and managing director Don Meij in November last year. The reason behind Mr van Dyck's departure is not yet known. Chairman Jack Cowin, 83, will now take over executive duties of the multi-billion-dollar pizza chain. 'To support a smooth and effective transition, chairman Jack Cowin will assume the role of executive chair on an interim basis, effective immediately, to work with Mr van Dyck and the executive team over the coming months,' the company said on Wednesday. 'Mark has made a valuable contribution to Domino's during a period of significant operational reset. With the strategic foundations now firmly in place, this transition enables a new CEO to take Domino's to its next stage of growth,' Cowin added. Domino's was in the process of a major business restructure much of which had been led by Mr van Dyck after he stepped into the leadership role. Those plans have now been left in disarray as he exits the company. In February Domino's fronted the ASX and announced it would be shutting down 205 of its unprofitable stores globally in a bid to improve the company's long-term profitability. The move was expected to save the struggling company approximately $15.5 million, but stock fell 12 per cent on the same day of the announcement. At the time Mr van Dyck said the "decisive action" was necessary for the Domino's to reach its "potential". 'Some of our Covid-period expansion resulted in stores that simply weren't optimal based on our current customer proposition, and removing them will strengthen our network," he said previously. 'Where change is required, we are acting quickly and transparently. 'Our priority remains clear, creating value for customers, franchise partners, and shareholders." Domino's has suffered considerable losses in recent years following Covid-19 and its expansion of franchises into Japan which was not met with heightened popularity as expected. Following his resignation, Van Dyk said: "It has been a privilege to lead Domino's through a transformative period." 'With a clear strategy and strong team in place, I believe the time will be right at the end of this calendar year to hand over to the next CEO. My focus in the months ahead will be on supporting a smooth transition.'
News.com.au
3 hours ago
- News.com.au
Top 10 at 11: ASX jumps on open as copper and battery metals rally
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Resources drive early gains The ASX 200 has jumped 0.42% in the first half hour of trading, with 9 of 11 sectors making gains as of about 10:30 am AEST. The materials sector is leading the charge, building on momentum generated by a rally in lithium and battery metal stocks and a 5.9% jump in James Hardie (ASX:JHX) shares. The construction materials company completed its acquisition of NYSE-listed outdoor living business AZEK today, adding to its extensive portfolio of exterior design brands. Lithium, rare earth and copper stocks are making the biggest moves this morning, including several of the stocks on our small cap winners list… WINNERS Code Name Last % Change Volume Market Cap PKO Peako Limited 0.003 50% 120000 $2,975,484 EEL Enrg Elements Ltd 0.002 33% 792525 $4,880,668 IS3 I Synergy Group Ltd 0.002 33% 620409 $2,253,285 SRN Surefire Rescs NL 0.002 33% 1500000 $3,729,668 LAT Latitude 66 Limited 0.029 26% 10932 $3,298,216 ADG Adelong Gold Limited 0.005 25% 60000 $8,274,707 DY6 Dy6Metalsltd 0.145 23% 1246772 $8,749,344 HOR Horseshoe Metals Ltd 0.025 19% 670720 $14,070,141 BCA Black Canyon Limited 0.16 19% 405899 $17,502,844 ID8 Identitii Limited 0.007 17% 15000 $4,668,081 In the news... Horseshoe Metals (ASX:HOR) is preparing to fire up its direct shipping ore operations for the Horseshoe Lights copper-gold project in WA, after getting the greenlight from the DEMIRS. HOR expects to have boots on the ground within the next few weeks, with sales of existing copper stockpiles to begin shortly thereafter. It's perfect timing for the company, with the price of copper soaring more than 26% in the year to date to reach 10-year highs. Latitude 66 (ASX:LAT) is offloading its 17.5% interest in the Greater Duchess joint venture project, triggering a right of first refusal for JV partner Carnaby Resources (ASX:CNB). LAT is looking to sell its interest for $2m, with some conditional payments on the table of up to $4m in cash or ASX-listed shares. If the project is sold within 90 days of the sale and anyone can get their hands on 100% of the project interest, LAT will be $4m richer; if only a partial sale is made in that time, the company will earn 50% of any proceeds above $4m. LAGGARDS Code Name Last % Change Volume Market Cap AOA Ausmon Resorces 0.001 -50% 111800 $2,622,427 VHL Vitasora Health Ltd 0.03 -23% 3864299 $61,504,061 MMR Mec Resources 0.004 -20% 504034 $9,248,829 PIL Peppermint Inv Ltd 0.002 -20% 100000 $5,752,724 C29 C29Metalslimited 0.015 -17% 1772692 $3,135,388 CUS Coppersearchlimited 0.016 -16% 100593 $3,018,941 RDS Redstone Resources 0.003 -14% 150000 $3,619,936 RNX Renegade Exploration 0.0035 -13% 616666 $5,153,454 CPV Clearvue Technologie 0.14 -13% 368291 $42,980,027 NYM Narryermetalslimited 0.031 -11% 101959 $6,161,918
