Monthly CFO Market Intelligence | Highbury Executive Talent Issue No. 6 | October 2026
THIS MONTH IN THE MARKET
The RBA took October off. After September’s hike to 4.60%, the Board sat on its hands and left everyone to digest it. CFOs got a month’s breathing room, but not much else. AGM season was in full swing, budgets for the second half were being locked in, and then the September inflation numbers landed. Headline CPI came in at 4.3%, ahead of forecasts, with fuel, electricity and new home prices doing most of the damage.
The Board took the hint. Cup Day delivered another 25 basis point hike, the fifth of the year, taking the cash rate to 4.85% and its highest level since 2008. While the country watched the horses, CFOs were back on the phone to their bankers.
Meanwhile, the CFO market kept turning. Plenty of boards are using the AGM window to tidy up their finance leadership before the end of the year. Interim titles are being made permanent, the CFO role is being redesigned in a few places, all against a difficult market backdrop.
It was a busy month. Please don’t mention Fleetwood Town.
WHO’S MOVED
Highbury has tracked over 50 CFO movements in the last month, however that list would be too long so here are our highlights across corporate Australia.
PRIVATE EQUITY
Jason Siu has returned to Australia and found his way into Modus Projects as the new CFO.
Chris Boast has found a new home with Country Care as their new CFO.
Todd Brown has his sights set on a new challenge with SEE Civil as their new CFO.
VENTURE CAPITAL
Douw van der Walt has split up with MA Money, to join JustFund as their new CFO.
Brendan Lee has moved client side for his maiden CFO role with Indebted.
PUBLICLY LISTED
Like a fine wine with a decade in the cellar, Justin Pipito has worked his way through divisional CFO roles and into the top seat at Treasury Wine Estates. A well-earned promotion for someone who knows the business inside and out.
Emma Burke has resigned as CFO with Tyro, and will be heading back to the familiar construction & property sector, joining Built Living as the new CFO, with a few more executive changes ahead. A global search is underway for her replacement at Tyro.
After a remarkable run with Lovisa, Chris Lauder has stepped down as the CFO, and a global search is underway for his replacement.
Nido Childcare have announced Cate Chandler as their new CFO, following on from Tom Herring’s resignation a few months ago. A search is underway at Fleetwood for Cate’s replacement. Different Fleetwood, still too soon.
Tali Ross has been appointed divisional CFO with Ampol, looking after the retail side of the business.
Up and comer Sean Wiedemann has impressed the Nufarm board during his time as interim CFO and been handed the CFO title.
Nigel Howe has been promoted into his maiden CFO role with Frasers Property Australia, while Anita Hoskings moves into a newly-created role of Executive General Manager – Capital Transactions and Operations. Well done Nigel.
David Cutajar has jumped headfirst into Narellan Pools (a division of the Latham Group) as their new CFO.
Nikki Bull has earned her maiden CFO role with Woolworths owned Petstock. Congratulations Nikki.
THE HIGHBURY VIEW
CFO movement ran hotter than usual this month. Boards are moving quickly to sort things out as we head into uncharted waters with rising interest rates, slowing growth and higher prices. Cost cutting and restructures are the name of the game, and with plenty of insolvencies across the market, the CFO seat has become more important than ever. Any CFO looks good in the good times. Now the market is calling for CFOs to step up and make their mark.
WHATS KEEPING CFO’S UP AT NIGHT
Interest rates went up again on Cup Day, and with fuel and energy pushing inflation higher, every P&L will be feeling it today, not just the heavily indebted ones. CFO’s with floating debt are rerunning their covenant headroom and hoping the numbers still say yes.
Retail CFO’s have another headache to deal with, as card surcharges were banned in October, so retailers and hospitality businesses that passed card fees on to customers now have to absorb them or reprice. David Jones & Anchorage took the headlines this month, with an important restructure and last minute cash injection from the lender and owner to help get the business through to Christmas.
The good news is that the deal market is still busy and PE funds are still hunting for quality assets. With plenty of busy CFO’s in the data room, let’s hope its pay day by Christmas.
ON THE PITCH
Highbury is currently engaged across several active searches in PE-backed and high-growth private businesses across Australia. If you have a mandate in motion, or one approaching we'd welcome a conversation.
Published monthly by Rick Jacobson, Managing Partner with Highbury Executive Talent. A boutique CFO search firm built for private equity, venture capital and high-growth mid-market businesses across Australia.
Careers transformed. Value created for investors. This is Highbury's arena.
