news: key staff quit.ominous Multiplex hit as key staff...

news: key staff quit.ominous Multiplex hit as key staff quit
Maurice Dunlevy
02may06

MULTIPLEX has lost almost its entire Victorian development team in an exodus of senior staff.

The departures have occurred over a period of about two months and involve most of Multiplex's Melbourne deal-makers.
While development manager Darryl Simmons remains in his job, David Hodgson, Paul O'Brien, Mike Randall, Chris Wanless and Nathan Cunningham have departed.

Multiplex claims it is carrying on business as usual in Melbourne, and the staff resignations - along with any downturn in its development activities - are part of the ebb and flow of the business.

However, the loss of key personnel is another setback for the group which was still hurting from missing out on Melbourne's largest office pre-commitment.

Multiplex wanted to sign IAG to a planned west tower at its $430 million Southern Cross development, where the Victorian Government has already anchored a 39-storey east tower.

But Multiplex came a close second to Cbus, which has signed the insurance group to around 27,000sqm at its Grand Central site at the western end of the CBD.

As the Wembley Stadium debacle reverberated through Multiplex, the failed IAG bid was the final straw for development staff already unhappy about the company's direction, according to insiders who say the company's culture was to "look for someone to blame".

"Whatever development proposal was put up, it seemed to me they (management) were more interested in road blocks," said one former employee.

Multiplex's inability to compete with the property trusts was another reason for staff discontent, the former employee said.

"They loved head-butting everybody, but their short-term development product couldn't compete with property trusts that have development arms and are prepared to take a long-yield view," he said.

Multiplex spokesman Matthew Chandler said while the development side of the business had slowed in Melbourne, that was not the case in other states with busy order books.

Nevertheless, he said changed Melbourne conditions meant Multiplex now had a "heavier focus" on master-planned communities.

Multiplex has only one residential project - at Tarneit in Melbourne's west - but recently moved Anthony Rowbottam from Perth to lead its push into Melbourne's estate market.

Meanwhile, former employees have found new jobs.

David Hodgson is Grocon's new Victorian development manager; Paul O'Brien has become head of commercial development for Investa; Mike Randall has joined Walker Corp; Chris Wanless has joined Salta Properties; and Nathan Cunningham has joined Crema Camillo Builders.