OCA - Oceania Group - retirement villages

**Beagle** · 08-03-2021, 06:45 PM

Originally Posted by Joh13

I think one of the best outcomes would be for Julian Cook to delay retirement and become CEO of OCA, but I think this maybe a tall order and OCA would have to offer him something pretty decent. Does anyone else see other potential candidates aside from Brent Pattison and do we think if Brent was appointed permanent CEO what could he bring to the table that Earl didn’t?

http://nzx-prod-s7fsd7f98s.s3-websit...068/315202.pdf
Brent has a very similar background to what Julian had when he took over running SUM. SUM did very well indeed under Julian's leadership and Brent looks like he has the background and skills to drive the company forward.

He has extensive investment banking experience and was in fact the lead advisor in the OCA float. Director of investment banking at arguably N.Z's leading firm Jarden for more than 5 years and before that at Forsyth Barr for several years. Linked In profile is here https://nz.linkedin.com/in/brent-pattison-990a5621

Having looked into his background a bit more I would feel very comfortable indeed if he is grated the role of CEO on a permanent basis.

**Baa_Baa** · 08-03-2021, 06:58 PM

Originally Posted by Beagle

http://nzx-prod-s7fsd7f98s.s3-websit...068/315202.pdf
Brent has a very similar background to what Julian had when he took over running SUM. SUM did very well indeed under Julian's leadership and Brent looks like he has the background and skills to drive the company forward.

He has extensive investment banking experience and was in fact the lead advisor in the OCA float. Director of investment banking at arguably N.Z's leading firm Jarden for more than 5 years and before that at Forsyth Barr for several years. Linked In profile is here https://nz.linkedin.com/in/brent-pattison-990a5621

Having looked into his background a bit more I would feel very comfortable indeed if he is grated the role of CEO on a permanent basis.

Brent has an impressive CV and a good track record at OCA. I would like to know firstly whether he thinks the strategy or execution could be improved, or what he might want to do with the business, before appointing him permanently to CEO. Of course there's also the question of who would replace him in his current role.

**Beagle** · 08-03-2021, 07:07 PM

Originally Posted by Baa_Baa

Brent has an impressive CV and a good track record at OCA. I would like to know firstly whether he thinks the strategy or execution could be improved, or what he might want to do with the business, before appointing him permanently to CEO. Of course there's also the question of who would replace him in his current role.

Good that he was lead advisor in the OCA float and has therefore had in depth experience with the company from its inception. I am sure he will have some excellent new idea's and implement some common sense ones that Earl may have pushed back against.

**Baa_Baa** · 08-03-2021, 07:49 PM

Originally Posted by Beagle

Good that he was lead advisor in the OCA float and has therefore had in depth experience with the company from its inception. I am sure he will have some excellent new idea's and implement some common sense ones that Earl may have pushed back against.

Stuff that! I don't want him changing anything at all, as interim CEO, until the Board and shareholders know what he intends to do, and if he is not to become the permanent CEO, then he better not change anything. I don't want some stop-gap interim CEO, who wouldn't be if OCA weren't blind-side by Earl, to come in and unilaterally screw around with a just-proven high potential strategy, execution and business model.

Not that I think he will, I'm just not going to sugar coat we've lost our CEO, who was great at getting us here, and the interim CEO is unproven in the same role. I'm not giving him the benefit of the doubt or pre-empting what the Board plan to do replacing Earl. Don't mess with what's not broken. I hope the Board take their time to appropriately scope their options for a CEO replacement, and don't change anything in the meantime.

**winner69** · 08-03-2021, 07:52 PM

Originally Posted by Baa_Baa

Stuff that! I don't want him changing anything at all, as interim CEO, until the Board and shareholders know what he intends to do, and if he is not to become the permanent CEO, then he better not change anything. I don't want some stop-gap interim CEO, who wouldn't be if OCA weren't blind-side by Earl, to come in and unilaterally screw around with a just-proven high potential strategy, execution and business model.

Not that I think he will, I'm just not going to sugar coat we've lost our CEO, who was great at getting us here, and the interim CEO is unproven in the same role. I'm not giving him the benefit of the doubt or pre-empting what the Board plan to do replacing Earl. Don't mess with what's not broken. I hope the Board take their time to appropriately scope their options for a CEO replacement, and don't change anything in the meantime.

A lot of bad can happen with interim CEOs and the general lack of leadership

Wouldn’t be funny if OCA ended up like A2

**Baa_Baa** · 08-03-2021, 08:03 PM

Originally Posted by winner69

A lot of bad can happen with interim CEOs and the general lack of leadership

Wouldn’t be funny if OCA ended up like A2

Wash your mouth out!

**Baa_Baa** · 08-03-2021, 08:20 PM

@Beagle, this is how it rolls at the big end of town.

Headhunter: dials Earl, ring ring
Earl: Hello, Earl here
Headhunter: Hi, thanks for taking my call, I'm Headhunter and before you hang up, I have an offer for you, to double your measly salary and bonuses if you come work for Metlife and do what you did for OCA.
Earl: Ah well, ok, um, let me think about it.
Headhunter: Sure, take your time, I'll call you back in a day or so.
Earl: Yeah nah, I've thought about it, send me the contract proposal signed by the Board. I need to run it by my legal.
Headhunter: No worries it's on its way.
Earl: Gee that was quick, OK make it three times salary and bonuses and you've got a deal.
Headhunter: Earl, you drive a hard bargain (knowing he could go to five times) but Earl's an easy beat.
Earl: Ok it's a deal.

Later ...

Earl: dials Elizabeth, ring ring
Elizabeth: Hi Earl, what's up, it's Saturday and we're just about out of lock-down, I'm at the beach drinking Pina Colada's
Earl: What beach?
Elizabeth: None of your business Earl, why are you bothering me on a Saturday?
Earl: Sorry Liz, just wanted to let you know I'm resigning and going to Metlife, mainly because they're paying way more than you misers want to pay me at Oceania.
Elizabeth: Really, aren't you even going to give us a chance to counter?
Earl: No sorry, it's too late, deal done, I start at Metlife in a few weeks.
Elizabeth: Well, that's disappointing but if you've made up your mind, well, let me ring around the Board just in case ... no wait, since you've shafted us, I accept your resignation. Good luck.
Earl: Um, ok. I'll pop into the office and clean my desk out today.
Elizabeth: Yes, that would be good, please don't copy the strategy or the business plans while you're there, I'd hate for this to become a legal thing.
Earl: Sure, right oh, no need to copy stuff that I made up in the first place. See ya round.
Elizabeth: Yeah, maybe, maybe not. Bye Earl.
Earl: Bye Liz.