The incoming CEO for Jupiter, current CIO Matthew Beesley, has his work cut out for him, with industry experts split about the prospect of a turnaround for Jupiter.
The surprise announcement from Jupiter's board this morning (28 June) that Andrew Formica was stepping down in October and would be returning to Australia has been meant with a degree of understanding from the industry. One investment expert pointed to the four page letter issued to the chair of the board in May from Jon Little, outlining his dissatisfaction with the current state of the company and Formica's leadership in particular. In his letter, Little said the appointment of Formica was "a mistake" and described his performance as "disappointing" under numerous metrics. Jupiter h...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes