SEEK Limited, together with its subsidiaries, provides online employment marketplace services in Australia and internationally. He has been replaced by former chief operating officer Ron Delia. Seek issued a trading update in June, when it posted a net loss of $111.7 million for the year ending June 30, 2020 and announced a non-cash impairment charge of up to … Seek said Zhaopin is in a net cash position of $222 million as at 30 June, up $44 million from 12 months prior, and the entire group had a track record of generating strong operating cash flows. Seek's annual general meeting is scheduled for November 19, when it will deliver a trading update. Gail Kelly is the former chief executive of Westpac and the only woman to make it onto this year’s list. Zhaopin has been a leading source of Seek's performance and underpins its ASX valuation, Blue Orca asserts, thanks to its tremendous growth. Seek is among the top 30 most shorted stocks with 5.23 per cent of the register loaned out, according to Shortman data. Under his guidance James Hardie Industries revenue has grown to around $1.5 billion a year. 2: Country/territory are based on where the companies are headquartered. Rex moved to Australia in 1998 after several senior management roles in the UK. Melbourne, 3000 Australia. He co-founded online job search website Seek Limited in 1997 with his brother Andrew Bassat. Sign up for the Herald's here and The Age's here. Follow live updates here. Gries’s salary has previously come under scrutiny by the Australian Shareholders Association, according to The Australian. Seek responded: "Given that the strategies of short-seller opinion writers such as Blue Orca Capital are generally to generate publicity by drawing companies into a public debate, Seek's preferred response is simply to confirm that it continues to meet its continuous disclosure obligations and is confident of its long-term outlook. Blue Orca was founded by Soren Aandahl who was formerly head of research at Glaucus which successfully targeted ASX listed sandalwood grower Quintis and asset manager Blue Sky Alternative Investments. The company matches hirers and candidates with career opportunities and related services; and distributes and provides higher education courses. A frequent comparison, the Nasdaq-listed Chinese jobs classifieds site 51job, is being privatised at 20.5 times enterprise value to EBITDA. SEEK executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. Sales and net income are based on latest financial years. You’ll also receive special offers from our partners. A little-known fact about him is that he is able to speak five languages. Seek is run and co-founded by Andrew Bassat. Sales $1B. Sales and net income are based on latest financial years. It also provides advice in relation to career related education. Seek reported a $111.7 million loss for 2020 in August including asset impairments totalling $198 million on its South American business and minority investments. Follow updates here. It's still a long shot but 10 rallies in two days has helped Donald Trump close the gap behind Joe Biden in the final days of the US presidential election campaign. It operates through SEEK Asia Pacific & Americas, and SEEK Investments segments. Bassat also became president of AFL club St. Kilda in 2018. Lega Serie A's president, Paolo Dal Pino, and FIGC's president, Gabriele Gravina, sent a letter to the Italian government, warning that the Italian soccer system was “at high risk of collapse.” Serie A is expected to experience losses of €400 million this season, they say. Andrew R. Bassat serves as Chief Executive Officer, Managing Director, Executive Director of SEEK Ltd. Andrew Bassat is the Managing Director, CEO and Co-Founder of SEEK Limited. Were the opposite true, Seek's 2020 EBITDA would be lower than what it earned in 2016. Blue Orca reckons Seek is worth only $7.20 a share. All Rights Reserved. In other words, rather than expense the costs in the year they were actually incurred, Seek amortises the costs over three to five years. The U.S. Food and Drug Administration needs at least two months of safety data before authorizing emergency use of any experimental Covid-19 vaccine. Against the backdrop of COVID-19, Alphabet (GOOGL) faces cold headwinds on the earnings front in addition to emerging regulatory challenges. 5. Seek's equivalent would be 47 times if its earnings were reported at a level the short seller believes is a fairer comparison based on their respective accounting treatments. Seek entered a trading halt last week after the short seller report sent its shares down 8 per cent to $21.51. Donald Trump was closing the gap on Joe Biden in late polls. JAMES Packer was well ahead of 2nd-placed PG Telecom boss David Teoh with $2.73 billion worth of shares, […] The Australian valued at $329 million in 2019. ", Blue Orca Capital founder Soren Aandahl's newest target is Seek. Andrew R. Bassat serves as Chief Executive Officer, Managing Director, Executive Director of SEEK Ltd. Andrew Bassat is the Managing Director, CEO and Co-Founder of SEEK Limited. US activist short seller Blue Orca has taken on ASX-listed online jobs portal Seek, claiming Seek's business in China, Zhaopin, is full of junk employment listings to maintain the illusion of user growth, and its valuation is vastly inflated. The Blue Orca report is littered with inaccuracies says Seek chief executive Andrew Bassat.Credit:Eamon Gallagher. Andrew Bassat Net Worth Andrew Bassat biography. Andrew Bassat is 53, he's been the Chief Executive Officer, Managing Director a Executive Director of SEEK since 2011. Zhaopin recorded revenue in 2019-20 of $749.6 million, up 16 per cent, and EBITDA of $123.7 million, up 25 per cent. There are no executives at SEEK getting paid more. Andrew Bassat Net Worth Andrew Bassat biography. Humana Profits Soar In Pandemic With Seniors Still Slow To Seek Care, Amy Coney Barrett Takes Up First Supreme Court Case, Twitter Shares New Warning Labels For Tweets Prematurely Calling 2020 Election Results. 2. The Blue Orca report is littered with inaccuracies says Seek chief executive Andrew Bassat. Blue Orca said Seek's shares could be worth as little as $7.20. It owns 61.1 per cent of Zhaopin, which used to be listed on the NYSE. People have been surfing the Web with Internet Explorer for a quarter of a century. Here are the three attributes companies say they’re seeking. Louis Gries, James Hardie Industries: $20.8 million. The Chinese business reported 818,000 unique hirers, down 13 per cent; 218 million registered candidate users, up 18 per cent; and 139 million completed resumes, up 13 per cent in 2019-20. Seek chief executive Andrew Bassat is another founder CEO who is on the record as saying these leaders have a unique advantage ... Hupert and Hall are worth … Data from 524 patients in a randomized, double-blind trial showed the antibody treatment “significantly reduced viral load” and patient medical visits,” Regeneron said. Peter and Steven Lowy, Westfield: $24.4 million. The CEO who founded SEEK, now worth $6.8 billion, with his brother, venture capitalist Paul Bassat and friend Matt Rockman of the Rockmans … 6. Our due diligence also uncovered a whistleblower claim by a Chinese college student alleging that Zhaopin pays people to submit fake resumes," the report said. This is why Mr Aandahl argues the Australian market is wrong to ascribe it a growth premium. Nicholas Moore, Macquarie Group: $11.4 million. An overwhelmed Belgium has started airlifting sick patients to other countries for treatment. https://addicted2success.com/news/the-top-20-youngest-australian-millionaires Here are three key ways to tap into what customers really want. Chris Rex, Ramsay Health Care: $30.8 million. 2: Country/territory are based on where the companies are headquartered. "Seek recently confirmed it is holding discussions with a number of parties around a potential selldown of its Zhaopin investment with any potential proceeds to clearly support Seek's balance sheet," said Goldman Sachs which values the stock at $17.30. Analyst reports that have been released since the short seller attack on Seek have covered some of the issues targeted by Blue Orca. Workers with high emotional intelligence tend to make better decisions, maintain their cool under pressure, deftly resolve conflicts, respond positively to constructive feedback, work well with others and demonstrate leadership abilities. “We accept that market participants have different opinions, however this report is littered with inaccuracies,” said Seek CEO Andrew Bassat. We are well-positioned for future growth and remain confident in SEEK’s long-term outlook,” Mr Bassat he said in a statement to the ASX. All children have the right to grow up in safety. Mike Wilkins, Insurance Australia Group: $11.5 million. ... could be worth as little as $7.20. Seek is not the first Australian tech stock to be targeted by short sellers. The Blue Orca report is littered with inaccuracies says Seek chief executive Andrew Bassat. Blue Orca also claims that Seek is reliant upon capital markets to fund acquisitions, and the true nature of its leverage is much higher than 3.2 times net debt to reported EBITDA.