Ernst &Young >About us>Connect - 2008 November - Ernst & Young - New Zealand

Alumni Connect

We are all living and working in increasingly uncertain and challenging times. So, in this issue of Alumni Connect, as growth in the New Zealand and Australian economies continues to slow, we bring you three papers to help your organisation become ‘downturn-ready’.

Times like these also call for resilience and determination and these qualities were in abundance in this year's Entrepreneur Of The Year Award Programme. The five category winners, including the overall winner, Michael Hill, are outstanding examples to the New Zealand business community of leadership and the ability to succeed against the odds. We congratulate them on their achievement.

Given that the state of the global economy is occupying the headlines, we offer timely insights and a ‘what could happen next’ view from a leading US economist and the leader of the Ernst & Young executive education programme in New Zealand, Professor Alan Beckenstein, who visited New Zealand last month.

As this is the last newsletter for 2008, I would like to wish you all a very enjoyable holiday season and thank you for choosing to stay in touch with the Firm through our alumni programme.

Rob McLeod
Managing Partner, Ernst & Young New Zealand

Where are they now?
Profiles of Ernst & Young New Zealand alumni

This edition we profile alumnus Tarun Kanji, Chief Executive Officer of Thureon. Starting with Arthur Young in 1989, Tarun's career took him overseas and then onto senior roles, including CFO, with Fosters. In his latest role he is spearheading a global exporting programme for an award-winning technology product.

We also profile Richard Foster, principal of Fosterra Consulting Group located in Rangiora and Christchurch. Richard began with Ernst & Young in 1997, in the Business and IT Consulting area. His three years with the firm gave him a wider business grounding that was invaluable to setting up his own boutique recruitment and HR consultancy in the South Island earlier this year.

Firm update

As growth in the New Zealand and Australian economies continues to slow, boards and CEOs want to be confident that their organisations will be able to successfully navigate any downturn. We explore eight dimensions that define downturn readiness.

• Under the spotlight - executive remuneration under scrutiny (pdf, 113kb)

The current economic climate is placing increasing pressure on organisations and Boards to review their current reward strategies and remuneration arrangements. We provide a snapshot of how we see companies responding to the challenge so far and what we anticipate they will consider for the coming year.

• Navigating uncertainty - corporate restructuring (pdf, 397 kb)

  In navigating through uncertain times, many businesses are experiencing some form of underperformance. It is important for executives to identify the warning signs quickly, understand the underlying factors and then implement the necessary actions to return your business to maximum performance.

Developing the skills for leadership

These are times when leadership, managing change and an ability to harness new opportunities are in high demand. The Ernst & Young Executive Programme invests in these capabilities by immersing participants in understanding the process of change at multiple levels - economy, industry, organisation, personal - and building an agenda for future success.

Some of our alumni will have experienced the benefit of attending the Ernst & Young Executive Programme. Now in its 16th year, the programme continues to provide a top-notch executive management education for private and public sector leaders. The next course takes place from 28 February to 14 March 2009 in Taupo and places are still available. Contact Rob Martin to find out more, or read about it on our website.

Bouncing back from economic shocks

Professor Alan Beckenstein of the Darden Graduate School of Business was ‘on the spot’ in New Zealand to deliver the latest economic news last month. The leader of the Ernst & Young Executive Programme, Alan is closely linked in to the New Zealand scene, meeting regularly with business leaders. On what was his 29th trip out here, he addressed audiences on the current predicament, describing it as a return to ‘long-term fundamentals’, and he offered his predictions on what more is to come. Read the article written for the Entrepreneur Magazine published by Ernst & Young.

Returning to Ernst & Young opens new doors

Of the thousands of people who have joined Ernst & Young, many have built their careers within the firm while others have moved on to other organisations. Although many of these people become our clients, refer future employees to us or encourage other organisations to contact us for advice, some – like Lisa Marusich – leave and decide to come back to Ernst & Young.

New rewards for referrals

As an alumnus, we believe you’re an excellent judge of people who will enjoy and be successful with Ernst & Young. So we value your recommendations.

Effective 28 April 2008, we have increased the reward to $6,000 for a successful referral at manager level or above and to $4,000 for roles below manager and above graduate level.  We are also now offering a $250 voucher for successful referrals at graduate or undergraduate level. 

Know someone with potential? Find out what to do next, including our rewards and conditions.

Michael Hill wins Ernst & Young Entrepreneur of the Year

Meet this year’s winner of the coveted Ernst & Young Entrepreneur of the Year 2008. Our warmest congratulations go to Michael Hill, of Michael Hill International Ltd. From a field of 18 inspiring finalists and five outstanding category winners representing diverse industries, Michael exemplified the characteristics of vision, resilience and determination that set apart a truly great entrepreneur. Read more about the 2008 winner and category finalists, announced at an awards banquet on 23rd October in Auckland.

The leading global business award in New Zealand, Ernst & Young's Entrepreneur Of The Year continues to uncover the great wealth of entrepreneurial talent shapin g New Zealand’s future. Michael will now go on to represent New Zealand and compete for the title of World Entrepreneur of the Year in Monte Carlo in 2009.

Ernst & Young alumnus scoops a top award at AmCham-UPS Awards

Ernst & Young is a proud sponsor of the AmCham-UPS Awards that celebrate success and innovation in the import, export and investment sectors between New Zealand and the US. A recipient of one of this year's major export prizes was Thureon, whose CEO is alumnus Tarun Kanji. (profiled above). Thureon’s latest award follows on the heels of a silver International Design Excellence Award from the Industrial Design Society of America.

Established in 2003, Thureon has had strong success internationally for its unique portable and durable ‘server in a box’ technology. To date Thureon has sold the technology into five countries and recently scored a lucrative contract with the US Government.

Supporting our future leaders

Ernst & Young is committed to helping young people achieve their potential. This year, Ernst & Young staff have mentored over 80 high-achieving students in our Volunteer Engagement Programme. The programme began in 2000 in five low decile secondary schools in New Zealand (Sir Edmund Hillary Collegiate, Henderson High School, Mana College, Wainuiomata High School and Hornby High School) and helps the students set and achieve their goals through regular mentoring.

“We pride ourselves on the interactions we are able to have within our communities because of the success of this programme. It not only gives back to the community but provides a fulfilling role for our mentors as well,” says VEP national coordinator, Rashmini Prasad. Read more about this and the other ways Ernst & Young contributes to our community.. 

We are always on the look out for information and stories about our alumni, so if you have any ideas or updates please email us. If you know of alumni who do not receive our updates please forward this link to them so they can register online at www.eyalumni.co.nz