At last week’s interim financial results, Mackenzie said he set up the transformation office last year “for the next wave of value creation”.
Mackenzie went on to say: “We’ll fully leverage our new approach to how we standardise work at the frontline in the interests of safety and productivity. We’ll pull forward automation, and we’ll really make use of our centres of excellence, which are world-class in our approach to projects, to maintenance, to geoscience and some other aspects of engineering.”
Over the past five years BHP has unlocked $12 billion of productivity savings but the momentum has stalled.
BHP’s announcement on Thursday included the news that Arnoud Balhuizen will leave the company in September and return to the Netherlands after 25 years with Billiton and BHP. He was replaced as chief commercial officer by Vandita Pandit.
ANZ chief executive Shayne Elliott on Thursday promoted former Google executive Maile Carnegie to the position of group executive digital and Australia Transformation. She is sharing responsibility for running ANZ’s Australian business with Mark Hand.
Hand was previously the acting head of the Australian business with responsibility for retail, business and private banking customers.
Elliott looks to have set up an intense competitive situation in his biggest division with both Hand and Carnegie responsible for transforming the Australian retail bank.
Carnegie has spent the past three years CEO digital banking. She was responsible for digital projects, innovation and strategic relationships. She was in charge of data analytics and marketing.
Her most obvious achievements have been the introduction of agile development methodologies in the bank’s software development.
Hand and Carnegie are likely to be in the running to replace Elliott in about three years time.
ANZ is not the first bank to have a chief transformation officer. At National Australia Bank, Anne Bennett has been executive general manager, NAB Transformation, since December 2017.
But the real grunt work on transformation at NAB is being done by Boston Consulting Group partner Andrew Clark. He is on secondment to NAB until 2020 as a strategic adviser on the bank’s transformation.
Another company with a chief transformation officer is Telstra. Alexandra Badenoch became Telstra’s group executive transformation & people in October last year.
The company said this role “leads the development of Telstra’s transformation road map and orchestrates the delivery of its key priorities with a focus on transforming the way employees work and strengthening employee engagement”.
There is considerable cynicism in some quarters of the market about the emergence of chief transformation officers.
It is claimed that it is extremely difficult to measure what transformation projects have delivered. While BHP has been open about the costs it has unlocked others with major transformation projects have been vague about the benefits to shareholders.
It would appear impossible to measure how transformation projects have improved customer service, boosted earnings and helped lift dividend payments to shareholders.
Tony Boyd
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