Top Santos executive retires
A mergers and acquisitions specialist will replace one of the top executives at Adelaide’s largest company who announced her retirement today.
Santos HQ in Adelaide. Photo: Tony Lewis/InDaily
Anthea McKinnell has retired as chief financial officer at Santos after more than five years in the role.
McKinnell will be replaced by Sherry Duhe, who most recently served as CEO of gold miner Newcrest and helped drive the sale of the business to Newmont last year.
Anthea McKinnell
Santos CEO Kevin Gallagher said McKinnell was a “valued member” of the company’s executive team.
“Anthea joined Santos more than five years ago and has steered the finance function through a period of significant inorganic and organic growth,” Gallagher said.
“Anthea has been a valued member of the Santos executive leadership team and I wish her all the very best for the future as she returns to Perth for family reasons.”
Gallagher welcomed Duhe to the Santos team, and highlighted her 28-year career, primarily in the oil and gas industry in senior finance, commercial and merger roles in Australia, the United States, Europe and the Middle East.
Before her stint at Newcrest, Duhe served as the CFO of Woodside Energy for four years and also worked for Shell for 13 years in various international finance roles.
“Sherry’s demonstrated financial capability, knowledge of the complex and dynamic energy and financial markets in which Santos operates, and experience in engaging with investors, capital markets and governments, positions her well to support the Santos management team and board of directors in delivering superior value for our shareholders into the future.”
Duhe will commence with Santos – SA’s top company per the 2023 South Australian Business Index – in mid-October.
McKinnell’s retirement follows Santos posting a decrease in sales revenues and profits in the first half of 2024.
The company reported $4 billion in sales revenue for the period – a nine per cent decrease on 1H23 – while net profits fell to $942.6 million.
However, the company increased interim dividends by 49 per cent, resulting in a record $625.6 million dividend issued to shareholders for the half.
Shares in Santos were down 0.99 per cent in early trade.
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