22.07.2016

All change at Coates

Australian based Coates Hire is generating more than its fair share of rumours, at the moment, topped this week by the word that chief executive Michael Byrne, has resigned, just a year and nine months after joining the company.

We have not yet been able to obtain confirmation from the company, but understand that he quit suddenly following a meeting. Other sources suggest that Carlyle Group may finally be holding meaningful discussions with a potential buyer for its 46 percent holding in the business, but we have not been able to confirm or find any evidence of that.

Byrne took over as chief executive of Coates Hire in October 2014, having joined the company from retailer Linfox. His background is in logistics, having previously worked as chief executive of Westgate Logistics and prior to that general manager at Mayne Logistics. We will update this item when we heare more
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Michael Byrne

Chief financial officer Jeff Fraser, has been tipped to take over from Byrne, either on a temporary basis, or for the longer term.

Watch this space.