And finally Nu
More bad news for Australian technology group Nuix on Wednesday, with the company advising investors of company secretary Michael Eganthe exit and general counsel Brian Krupczak should be replaced by Illona Meyer, joining from pharmaceutical giant Boehringer Ingelheim.
What was not announced was Nuix’s executive vice president for the Americas Ethan Treese has also gone, as well as the head of the company’s engineering operation, very important, Paul Keen.
The departures follow warnings of a dismal set of results for the 2021-22 financial year: profits, profits and contract values fell sharply compared with the previous year. The only thing that went up was attorneys’ fees, to fund multiple high-profile legal actions the company is facing.
It’s not all bad news. Australian Ethical Investments is keeping the faith, spending $640,000 or so on another million Nuix shares at about 64 cents on July 19, on top of the $29 million the fund has spent since last June. The latter tranche was worth $570,000 on Wednesday.
In the middle of all this, CEO of Nuix Jonathan Rubinstein keeps his eyes on the big picture, predicting that the company’s new statement of purpose — “to be a force for good, by finding truth in the digital world” — will spark a “vigorous debate internally about what’s good and what it’s true”.
He then proceeded to share a meandering post about the nature of truth written by his 19-year-old daughter.
No doubt. We think they’ll have plenty of other things to talk about, too.
Otter strength
As Chairman of the Joint Chiefs of Staff, Mark Milley is the highest-ranking officer in the US military and is undoubtedly familiar with all manner of highly sophisticated military technology. But while in Sydney, the top general reacted with a sense of wonder after encountering ‘Otter’, the transcription app journalists at Sydney’s Shangri-La Hotel used to record his conference of press
I even wanted to take a turn, talk to them Financial Times the phone number of journalist Demetri Sevastopulo. One of Milley’s advisers was less impressed, pointing out the app’s vulnerability to Chinese spying.
Milley did not seem bothered by this, although minutes earlier he had warned reporters that China wanted to “harass and dominate” the Indo-Pacific.
De-realization
The impending retirement of Vaucluse MP Gabrielle Upton means the race is on for the NSW Liberals to find a candidate representing some of Sydney’s most exclusive real estate.
In an area most vulnerable to a truffle heist, there is broad consensus that the Liberals need a female candidate. That’s why Tuesday’s Liberal Women’s Mid-Year Luncheon at the Sydney Women’s Club, the first such event in two years, served as the unofficial launch of the preselection campaign.
Upton, along with four potential successors, the party’s state vice-president Mary-Lou Jarvis, Woollahra mayor Susan Wynne, former TV presenter Kellie Sloane (once approached to run like a green one) and the president of the Coalition for Conservation, Cristina Tolacko, were in the room. . Daisy Turnbull, once considered a candidate, was not there and we hear she is probably out of contention.
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Unlike the party’s fractious federal primaries this year, the candidates want to keep things civil and productive. Good luck.
Cut through the noise of federal politics with news, opinion and expert analysis from Jacqueline Maley. Subscribers can subscribe to our weekly Inside Politics newsletter here.