I’ve been busy over the last few days digesting the feedback from trusted Toll Group insiders to understand how precarious the situation is at the Australian logistics firm following the latest ransomware hacking. Lucky me.
The good news first: three months after the first cyber attack “the company is definitely more prepared this time round, in terms of their response. More structured,” one source, Mr Gloom, noted.
If that is encouraging, it’s …
Our Premium sources have been on fire recently, and thankfully so with regard to the latest shocking developments at Australia’s Toll Group.
Here is a quick recap: seriously troubled financially, the integrated logistics company is scouting for a buyer, any buyer, that could make sense of it, one way or another.
Or, rather, fix what might be left of the once-glorious group as the de-boning continues.
Devastation
Now glance at the end table below, …
The post M&A radar: Mullen exit rumoured, Japan...
https://theloadstar.com/jo-1-of-2-toll-mullen-exit-jp-sale-value-expectations/
On 1 April, Toll Group CEO Thomas Knudsen sent a message to all employees at 5.40pm local time.
Part of it was leaked to the press: In a story headed “Toll Group CEO takes 40% pay cut” (link), The Australian Financial Review (AFR) last week reported that:
“Knudsen, will take a 40% pay cut for the next six months and move some staff to a four-day week, as the logistics group struggles with the loss …
The post Supply chain radar: Toll Group CEO – ‘actioning every possible option with urgency’...
I had a long chat with a senior Deloitte manager out of the United States some time ago and he warned me about the perils of trying to address logistics issues with a touch of genius that only consultancy firms enjoy at times.
What works on paper, he argued, is often not worth the paper it’s...
https://theloadstar.com/market-insight-toll-group-the-bell-is-tolling-for-mr-mullen/
That Japan Post doesn’t know what to do with Australia’s Toll Group is well known and on everybody’s lips in my logistics circles.
When Michael Byrne was still leading this horror show, the company told Premium that managers were committed to turn things around, as if they had both plenty of time and the necessary resources to act swiftly and sort out the trouble they found themselves in.
When I talked to the company, …
The post Market Insight: The Toll Group horror show, one nasty piece at a...
https://theloadstar.com/market-insight-the-toll-group-horror-show-one-nasty-piece-at-a-time/