09/09/2020
Media Release (https://www.ramint.gov.au/category/media-release)
[img=400x602]https://www.ramint.gov.au/sites/default/files/2020/Media_Release/rossmacdiarmid-16.jpg[/img]
Ross MacDiarmid, Chief Executive Officer of the Royal Australian Mint (the Mint), today announced that after ten years at the helm he will be leaving the Mint on 4 December 2020.
As the first Mint CEO with a private sector background, the transformation the Mint has gone through under Ross' leadership has been extraordinary. Drawing on his experiences in leading a number of corporate transformations in Melbourne and his work in the Public Sector, in both tourism and business development in Canberra, have given Ross the experience needed to transform the Mint into a high performing business and a well-recognised National Cultural Institution.
Under his leadership the Mint has become a substantial commercial enterprise, with a RONA of > 28% and a very strong balance sheet. International and domestic sales revenue has grown from $25 million in 2010 to $100 million in 2019, successfully offsetting slowing demand for circulating coins.
As an important cultural and tourism destination, visitation has grown from 180,000 to over 360,000 under Ross' leadership. In that time, the Mint has won multiple awards including; national engineering, export awards, international product awards, as well as tourism and safety awards.
In commenting on his time at the Mint Ross said, "It has been an absolute privilege to lead the Mint through such a transformative program. I want to thank the staff for trusting me that we could deliver, and in fact have delivered on a shared vision of becoming a world class leader in the minting world. I also want to thank The Treasury and the Federal Government for trusting that we could adopt the private sector modus operandi by focusing on optimising shareholder value while still significantly enhancing the reputation and the brand of the Royal Australian Mint, now reflected in very positive national awareness and a net promotor score that would be the envy of many organisations".
The Chair of the Advisory Board, Russell Miller AM, said, "Under Ross' leadership, all of the complex challenges faced by the Mint as a Commonwealth manufacturing enterprise with a strong cultural and tourism role have been successfully met. The Mint has also developed new market opportunities. Ross has significantly enhanced the Mint's reputation internationally. It is a much stronger organisation and institution today thanks to Ross' leadership. We thank him and wish him well for the next chapter in his career".
A search to find a replacement will commence in the coming days.
I will be sorry to see him go but a new CEO just might smarten things up a wee bit.
He was interviewed on the ABC a few weeks back regarding Covid and other matters,came over as dour and pessimistic and mentioned more than once the downward demand for circulating Coins.
I thought it was strange interview for a person in his position but he may have already decided to move on.
Maybe I should put my hand up for the job. The commute to Canberra would be a killer though. Canberra is a nice place but I couldn't live there. Too cold.
Hm, I've been collecting seriously for more than 10 years but I don't remember him being appointed in 2010.
All of the above just confirms the place of the Mint in Australia is not to make coins for circulation any more.
They are a tourist attraction making souvenirs for collectors.
I guess that is a huge problem and the guy appears to have been successful in re-jigging the joint to keep it solvent.
That is always the success of any buisness, to change to the mode of operation to suit changing markets.
I worked for places that did not adapt and they went under.
The Mint only needs to produce enough coinage to replace wastage from now on.
The were supplying a diminishing market which will flat line or trend down in the next couple of years.
So they have to make other stuff to fill the gaps and where they can find export markets that is a plus.
Interesting times indeed!
Fred.
I had a mate working there under contract and his job was to come up with coins collectors would be willing to pay (MORE) for.
That is part of the reason why I am only really interested in circulating coins these days. Too much like Australia Post, out to fleece the punters and speculators.
Quote from: 'gweidion' pid='123322' dateline='1599910028'I had a mate working there under contract and his job was to come up with coins collectors would be willing to pay (MORE) for.
That is part of the reason why I am only really interested in circulating coins these days. Too much like Australia Post, out to fleece the punters and speculators.
I used to feel the same way, but more than one collector I know got their start in mint product, so if producing masses of new issues can help to get at least a few new collectors into our hobby, then it's a good thing.
Eric
Treasury welcomes the appointment of Leigh Gordon as the Chief Executive Officer of the Royal Australian Mint.
https://treasury.gov.au/media-release/new-chief-executive-officer-royal-australian-mint
How long before we start calling him Commissioner Gordon?
Quote from: 'gweidion' pid='123906' dateline='1607316744'How long before we start calling him Commissioner Gordon?
Good one. :taunt:
Ahhh Leigh Gordon.
https://www.defenceconnect.com.au/strike-air-combat/420-the-f-35-is-the-right-aircraft-for-australia-air-vice-marshal-leigh-gordon
The man who headed up the F-35 programme, which Australia spent $17b on aircraft which were obsolete before they were built.
We're in good hands.
Actually, maybe that will mean the Mint is no longer treated as a profit centre, but a part of treasury which delivers a service.
Ross was an asset to the RAM his replacement will be appointed by treasury
Quote from: 'runway' pid='124006' dateline='1608545763'Ross was an asset to the RAM his replacement will be appointed by treasury
Appointment already announced 4 Dec, see jens coins post above.
coins