mcc ceo tells how firm developed muscle

CEO tells how firm developed muscle

November 26, 2008


IN SIX months her company made between $150million and $160million profit.

It's no wonder people came to hear her speak.

In front of Mackay's mayor and councillors, a smattering of directors, bankers and our business leaders Macarthur Coal chief executive officer Nicole Hollows talked about the company she helped build.

The 37-year-old spoke at the Australian Institute of Company Directors' (AICD) end-of-year breakfast, outlining how a small mining company called Macarthur went public and became a giant.

Within a decade, she had moved from company secretary of a six-person company, to CEO to more than 300 people.

Ms Hollows said the company owed its success to its four main values: to "lead the way", "value people", "talk straight" and "working together".

"We have a talk-straight pillar," she said.

Before the meeting she said Macarthur put a huge emphasis on its communication.

"Messages have to be able to cascade through the organisation. Communication lines must be able to go up as well as down."

Macarthur only mined its first coal in late 1998, but by 2001, it was producing two million tonnes annually.

It owns 73.3 per cent of both Coppabella and Moorvale mines, south-west of Mackay, 70 per cent of Middlemount Mine, with a port capacity expected to double over the next five years.

Ms Hollows said there were issues that had to be addressed as the company went public.

"You need to understand that you have responsibilities to all stakeholders in the company, public scrutiny is also greater and there are increased regulations."

Ms Hollows has also been noticed by her peers within the mining industry and was expected today to be named as the new president of the Queensland Resources Council, the peak body for the sector.