Tourism Australia’s former managing director, John O’Sullivan, has formally commenced his role as CEO and an executive director of Experience Co. today.
O’Sullivan will be responsible for leading the ongoing strategic review of the ASX-listed business, which “aims to renew focus on growth from the core portfolio and simplify the business through the rationalisation of non-core assets and corporate support functions”, according to a statement to shareholders this morning.
“An update on the strategic review process is expected to be provided when the company releases its FY19 results to the ASX on 30 August 2019.”
Tourism Australia announced O’Sullivan’s departure to Experience Co. in May, with the experienced exec recently revealing in an interview with Travel Weekly (which you can read all about in the latest issue of our magazine) that he was approached by headhunters for the role.
O’Sullivan said an enjoyable five years at Tourism Australia was one of the main reasons why he decided to accept the new gig and stay in the industry.
“Secondly, experiences are where the industry is heading, so the opportunity to lead a business at the heart of that was also exciting,” he told Travel Weekly.
“The opportunity to return to a commercial sector-facing role, in a leadership role, of an ASX-listed business, was also exciting.”
Experience Co. also noted in its announcement this morning that Bob East will step down from his current role as executive chairman with immediate effect and resume his former role as a non-executive director of the company.
Following a period to assist in the leadership position, managing director Anthony Boucat will join Experience Co.’s board as a non-executive director from 1 September 2019.
“On behalf of the board, I welcome John to Experience Co. and am confident that the current leadership team, headed by John, are well-placed to lead the business through the strategic review process and deliver earnings growth from our core portfolio, improving shareholder value,” East said.
“I look forward to Anthony joining the board as NED and the ongoing contribution his depth of skydiving experience can provide to the board.”