New leadership team: Costa cleans house

Costa Logistics sends the broom through its leadership team, with four more executives joining CEO Tim Bolam out the door

New leadership team: Costa cleans house
Costa cleans house
By Samantha Freestone | February 17, 2010

Victorian-based operator the Costa Group has sent the broom through its executive team in a bid to restructure its operations.

Another four executives were shown the door on January 25, joining Tim Bolam who had been head-hunted from the UK and appointed CEO of Costa Logistics division only last year.

ATN last week revealed Bolam was moving on, and new Costa Group Chief Operating Officer Geoff Norman yesterday said others had taken redundancy packages.

This includes another member of the Costa Logistics division, one from Costa Exchange and two more from the Costa Group.

Norman says the re-structure is a move to create "a leaner, smarter, faster, more simplified and more efficient logistics team."

He says the changes have eliminated boards in each division under the Costa Group banner, with only one board remaining.

"We how have one group board that will oversee the whole Costa Group," Norman says.

"There was probably duplication across the business."

Although the changes were made not long after Costa’s failed bid to buy the now defunct Mannway, Norman says it had no influence on the company’s actions.

"None of it was [motivated by] poor performance," he says.

"It wasn’t so much about saving money either, but to make sure the business was united."

Norman says the departing executives were happy when they ended their tenure collectively last week.

It was only on August 31 last year the Costa Group made its previous leadership team public, which included Bolam, Chief Financial Officer George Palatianos and General Manager of Business Development Ross Walter.

Norman was also a part of the group that the company proclaimed would help it grow its operations.

Costa Group Managing Director Simon Costa says the restructure will help generate efficiencies and streamline reporting procedures.

"Despite the difficult economic conditions of last year, the group performed above expectations and we are looking forward to the continued growth of the business," he says.

The Costa Group is one of Australia’s largest diversified family companies. Norman has previously served as the general manager of operations during his 10 years with the company.

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