Ebos moving management to Australia

ALAN WOOD
Last updated 05:00 25/02/2014

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Ebos Group's top operational management team will be based in Melbourne from late August, with Christchurch losing its head office status.

Managing director and chief executive Mark Waller will pass his chief executive role to Patrick Davies in August and the chief financial officer role will pass on to John Cullity about the same time, with Dennis Doherty retiring from the Christchurch office.

"The CEO and CFO need to sit together, and they will in Melbourne," Waller said after the company released its results last week.

He acknowledged that the two roles being based across the Tasman reflected an Australian growth strategy, though Christchurch would retain some of the power base.

"We've got large businesses in Sydney, large businesses in Melbourne, many large businesses in Auckland. The key executives for those businesses stay where they are. The corporate office - finance functions M&A [mergers and acquisitions] and strategy - will be split between Christchurch and Melbourne."

Davies is chief executive of Ebos-owned Symbion, and he and Cullity are already based in Melbourne.

"We've got such a chunk of our business in Australia now we felt that the operational side . . . really had to have a major Australian presence. Patrick Davies will pick up that role at the end of August."

Symbion, an Australian pharmaceutical wholesaler and distributor, bought by the NZX-listed Ebos last year. The $1.1 billion deal to buy Symbion from Hong Kong-based Zuellig Group brought in Zuellig as a 40 per cent shareholder.

Waller said the Zuellig family had "no input" into the succession plan.

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