Here is an article on Tony Clarke From business spectator Sep...

Here is an article on Tony Clarke

From business spectator Sep 9th 2009

Former Centro CFO takes out Turnaround Management award

Former Centro Property Group chief financial officer Tony Clarke has been recognised for his leadership on the company's debt renegotiation, which helped prevent its collapse.

Mr Clarke's work with KPMG, which involved the negotiation of a three-year extension of Centro's $3.9 billion debt facilities and the conversion of $1 billion of debt into hybrid security, was the most significant transformation by a CFO last year, according to the Turnaround Management Association.

Mr Clarke, who is currently the group's Australian chief executive until his planned departure next February, also ensured that the majority of the once-stricken firm's US and Australian property portfolios were retained and over 1,400 jobs were saved.

Accepting the award on behalf of Mr Clarke, KPMG partner Damian Templeton said he was "delighted to accept the award in an unparalleled year for global markets".

"The year involved a lot hard work from the company and its advisers and creativity from our lenders culminating on January 16th with the Debt Stabilisation Agreement. These efforts ultimately created a foundation for Centro's future. We have maintained momentum and focus since then, hitting all of our financial targets, and I would particularly like to acknowledge the effort of our team in this regard," Mr Clarke told Business Spectator.