NIFSAN CHIEF QUITS AMID MANAGEMENT DEBACLE

NIFSAN CHIEF QUITS AMID MANAGEMENT DEBACLE

NIFSAN chief operating officer Robin Maini has walked out of the troubled property development company citing irreconcilable differences with management.

Maini slammed the inner politics at Nifsan as akin to a soap opera. Nifsan is the developer behind the $1 billion Emerald Lakes project on the Gold Coast. Maini is the third CEO to have bailed out of the company in the last two years.
 
“The management is too manipulative and controlled and the directors are not listening to the CEO,” says Maini, who took over the chief operating role from Greg Campbell last year.
 
Insiders have told Gold Coast Business News that Nifsan is now a ‘poisoned chalice’following the controversial appointment of marketing director Javier Valdivieso - the partner of company director Leslie Lord.
 
“The upper politics is a little too challenging and I’m not the person to put up with that,” says Maini.
 
Another disgruntled former business associate who is reportedly owed money by Nifsan, has labelled the company ‘a three-ringed circus’.
 
“The place was running like a Swiss watch and then the wheels just fell off. I have never seen in all my years a company run like that,” says the well-known business identity, who asked not to be named.
 
“There is an arrogance that is causing absolute mayhem in the company and it’s a bloody shame.”
 
Maini, who will take a few weeks sabbatical before deciding his next move, is eyeing off a prospective executive role in Brisbane.
 
Nifsan is deliberating whether to develop its signature $240 million Porto Grande project comprising 230 units and an 11 storey tower. The company recorded revenue totalling $46 million last year.
 
Nifsan declined a request for comment by Gold Coast Business News.

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

ASIC secures its first court win for greenwashing against US giant Vanguard

ASIC secures its first court win for greenwashing against US giant Vanguard

The Australian corporate watchdog has caught out one of the world&r...

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Australian-founded medicinal cannabis company Althea Group (ASX: AG...

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Listed funds manager 360 Capital Group (ASX: TGP) has offloaded its...

The party’s over: Splendour in the Grass festival cancelled for 2024

The party’s over: Splendour in the Grass festival cancelled for 2024

Splendour in the Grass, Australia’s largest winter music fest...