logo
Carsales chief bows out after 230pc growth record

Carsales chief bows out after 230pc growth record

The chief executive of Australia's biggest automotive classifieds business, $14 billion Car Group, is stepping down after nine years and more than 200 per cent growth in the market capitalisation of the company that owns carsales.com.au.
Cameron McIntyre has been with Carsales for 18 years, first joining as chief financial officer in 2007 and helping take the company public in 2009. He will leave on August 15 and has a six month non-compete.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

What we learnt: Two blue-chip CEOs say bye, ASX battler's private equity fight
What we learnt: Two blue-chip CEOs say bye, ASX battler's private equity fight

AU Financial Review

time5 days ago

  • AU Financial Review

What we learnt: Two blue-chip CEOs say bye, ASX battler's private equity fight

The big result: CAR Group | As Carsales owner CAR Group's Cameron McIntyre fronts up for a final tour of investor duties this week, we can't help but wonder whether he's really done with executive life. McIntyre has CAR firing on all cylinders. He has helped turn a dominant Australian car classifies business into a global player with healthy businesses in the United States, Brazil and Korea, while continually finding ways to grow the core Australian business.

Lunch Wrap: ASX cruises as CATL mine closure sends lithium into overdrive
Lunch Wrap: ASX cruises as CATL mine closure sends lithium into overdrive

News.com.au

time6 days ago

  • News.com.au

Lunch Wrap: ASX cruises as CATL mine closure sends lithium into overdrive

Lithium stocks rocket as CATL mine shuts JB Hi-Fi and Car Group CEOs call time Capstone, Eagers and DroneShield drop big moves By Monday lunchtime in the east, the ASX was cruising 0.25% higher, catching a lift from Wall Street's record-breaking finish on Friday. Bitcoin is also up 4% in the past 24 hours and closing in on its all time high again, while altcoins have been buzzing, too, after Ripple's US$200 million Rail acquisition sent XRP, Ethereum and Solana higher. But it was the mining sector doing most of the heavy lifting this morning, mostly because lithium just found itself a fresh jolt of adrenaline. There's been a lithium frenzy after a major Chinese mine shut its gates. Reports said the world's biggest EV battery maker, CATL, has let a key mining permit lapse. And when the mine you're shutting has been a significant source of lithium supply in China – the world's processing powerhouse – the market hits the panic button. Traders are now bracing for a short-term squeeze in feedstock, and every lithium stock is riding the sugar high this morning. Pilbara Minerals (ASX:PLS) and Liontown Resources (ASX:LTR) jumped around 14% and 18% respectively on the news. In other large cap news, JB HiFi (ASX:JBH) dipped 9% despite a result that beat expectations and came with a shareholder payday. The bad news was CEO Terry Smart said he will step down after more than two decades, handing the reins to COO Nick Wells. CAR Group (ASX:CAR) (formerly Carsales) rose 1% on a 10% jump in NPAT to $275 million, a final dividend of 41.5¢, and guidance for double-digit earnings growth next year. Outgoing CEO Cameron McIntyre leaves after 18 years with the company, having built an international classifieds empire across the globe. DroneShield (ASX:DRO) added 0.5% after launching SentryCiv, a subscription-based AI counter-drone system for civilian infrastructure like airports and utilities. Still in large caps, Eagers Automotive (ASX:APE) announced a non-binding MoU with Mitsubishi Corporation to explore growth in dealerships, finance, fleet, and crucially, "new energy" vehicles. Shares were down 1%. Finally, Capstone Copper Corp (ASX:CSC) confirmed a US$176 million expansion of its Mantoverde project in Chile, set to lift copper output by 20,000 tonnes a year once fully ramped in 2027. CSC's chares rallied 5%. ASX LEADERS Today's best performing stocks (including small caps) intraday: Security Description Last % Volume MktCap ETM Energy Transition 0.115 109% 42,924,519 $85,327,477 BP8 Bph Global Ltd 0.002 100% 498,187 $1,050,985 DAL Dalaroometalsltd 0.038 52% 1,896,683 $6,491,298 LNU Linius Tech Limited 0.002 50% 19,013,171 $6,501,216 PAB Patrys Limited 0.002 50% 881,202 $2,365,810 PLC Premier1 Lithium Ltd 0.008 33% 4,731,318 $2,208,363 BCC Beam Communications 0.155 29% 120,000 $10,370,631 BCN Beacon Minerals 1.670 29% 330,868 $136,831,237 FNR Far Northern Res 0.175 25% 71,142 $5,637,216 BYH Bryah Resources Ltd 0.005 25% 3,714,500 $4,114,130 MRD Mount Ridley Mines 0.003 25% 630,084 $1,556,978 EPM Eclipse Metals 0.027 23% 26,489,816 $65,981,352 ADO Anteotech Ltd 0.028 22% 11,187,346 $62,221,907 GBZ GBM Rsources Ltd 0.034 21% 4,228,579 $39,644,111 ZEO Zeotech Limited 0.071 20% 11,152,663 $110,933,456 ADY Admiralty Resources. 0.006 20% 295,279 $13,147,397 SER Strategic Energy 0.006 20% 166,666 $4,183,458 SPQ Superior Resources 0.006 20% 4,794,499 $11,854,914 TFL Tasfoods Ltd 0.006 20% 684,735 $2,185,478 LTR Liontown Resources 1.008 19% 38,298,742 $2,052,847,208 MPK Many Peaks Minerals 0.860 19% 763,708 $88,748,959 FL1 First Lithium Ltd 0.125 19% 117,331 $8,363,628 BPH Global (ASX:BP8) says its R&D partner TPIH will run extra assays on naturally growing seaweed Sesuvium portulacastrum, to check its knack for hoarding gold, silver and rare earths. It's a freebie for the company, building on earlier work that showed the species can pack high-value metals into its biomass. The fresh tests will help confirm whether wild-grown seaweed matches or beats the metal content seen in cultivated samples, bolstering its case as a future source of 'bio-ore. Linius Technologies (ASX:LNU) has secured its first sale of Captivate to long-time partner Honest Technology Partners in a deal worth over $250k. The two-year contract will see Captivate used to give ice hockey fans personalised, TikTok-style highlight reels from entire video archives, helping rights-holders boost engagement and monetise directly. The agreement runs through to July 2027, with scope to grow if more games are added. Beacon Minerals (ASX:BCN) has wrapped up its biggest-ever RC drill program at the Lady Ida Iguana deposit, punching 298 holes for 16,506 metres to firm up confidence ahead of first production early next year. The first 2,970 assays are back, showing standout hits like 6 metres at 46.8 g/t gold and 5 metres at 39.3 g/t, with some intercepts over 100 g/t. The remaining 13,500 results are due in the next two months, and the high-grade Northwest corridor has Beacon eyeing deeper follow-up drilling. ASX LAGGARDS Today's worst performing stocks (including small caps) intraday: Code Name Price % Change Volume Market Cap SNT Syntara Limited 0.031 -46% 45,724,768 $92,775,383 AOK Australian Oil. 0.002 -33% 1,171,757 $3,113,349 MTL Mantle Minerals Ltd 0.001 -33% 655 $9,671,169 BUX Buxton Resources Ltd 0.029 -31% 8,771,685 $14,431,448 AQX Alice Queen Ltd 0.003 -25% 2,500 $5,538,785 GTR Gti Energy Ltd 0.003 -25% 1,895,616 $14,890,619 JAY Jayride Group 0.003 -25% 983,469 $5,711,556 EQS Equitystorygroupltd 0.020 -20% 126,964 $4,170,510 AYM Australia United Min 0.002 -20% 500 $4,606,444 MSI Multistack Internat. 0.004 -20% 89,033 $681,520 PGY Pilot Energy Ltd 0.009 -18% 8,523,886 $23,745,260 HTG Harvest Tech Grp Ltd 0.015 -17% 485,790 $16,362,330 CRR Critical Resources 0.005 -17% 23,405 $16,620,513 SHP South Harz Potash 0.003 -17% 200,000 $4,415,170 TKL Traka Resources 0.003 -17% 15,024,534 $7,266,417 TMX Terrain Minerals 0.003 -17% 1,154,239 $7,595,443 VAR Variscan Mines Ltd 0.005 -17% 7,622,922 $4,697,146 NVQ Noviqtech Limited 0.036 -14% 1,881,216 $10,564,535 TON Triton Min Ltd 0.006 -14% 300,000 $10,978,721 TSL Titanium Sands Ltd 0.006 -14% 43,500 $16,413,230 PER Percheron 0.010 -14% 3,247,727 $11,961,814 GT3 G360 Technologies 0.028 -13% 761,201 $32,304,493 Last Orders AnteoTech (ASX:ADO) has taken in $2.59m in cash from the ATO from a research and development tax incentive for the activities across both its advanced battery tech and life science divisions. An acceleration for the incentive was a key outcome highlighted in a recent strategic review and refreshed strategy which has prioritised a commercial rollout of AnteoTech's advanced technologies across key global markets. Sovereign Metals (ASX:SVM) has finalised its mining method and fleet design and capped off another key input for the ongoing definitive feasibility work at its Kasiya rutile-graphite project in Malawi. The fleet has been specifically engineered for large-scale dry mining operations, and Sovereign CEO Frank Eagar said its successful validation has enabled it to design a fleet that delivers on a commitment to industry-leading low operating costs while maintaining exceptional flexibility and reliability. DY6 Metals (ASX:DY6) has validated the high-quality nature of oversized natural rutile nuggets recently found at its Central rutile project in Cameroon with XRF results coming in at an average of 95.64% titanium dioxide. CEO Cliff Fitzhenry said both the high levels of titanium and low impurities suggest a premium quality, and that the array of lab results provide an excellent foundation for real-time geochemical analysis and delivering low cost, rapid assay turnaround times for future exploration. West Wits Mining (ASX:WWI) has completed the buy-back of a 10% minority interest and raised the interest in its 5Moz Witwatersrand Basin project in South Africa from 66.6% to 74%. West Wits considers the deal as a value accretive one, particularly considering a recent DFS which outlined the project as quite the golden prize with a post-tax net present value of US$500m. Horseshoe Metals (ASX:HOR) has appointed copper mining expert Steve Sickerdick as GM of oxide copper operations to facilitate a direct shipping ore start-up at the historic Horseshoe Lights mine just 60km westward of the legendary DeGrussa copper and gold mine. Horseshoe believes the project still remains both underexplored and underdeveloped, and director and CFO Kate Stoney said the company was delighted to welcome such an experienced operator as it enters an exciting phase in its evolution as an emerging copper developer. RareX (ASX:REE) has commissioned a consultancy firm to conduct early-stage community engagement for its Mrima Hill critical minerals project in Kenya. Managing director James Durrant said the company was confident its consortium with Iluka offers the strongest delivery model for the project, but it had to first earn the trust of local communities, and that leading East African firm AWEMAC's deep local experience would ensure a mutually confidence-building process. In Case You Missed It Power Minerals (ASX:PNN) has completed its due diligence over Santa Anna and is now all set to acquire the Brazilian niobium-rare earths project and enhance its position as a South American-focused explorer and developer of clean energy metals. Greenvale Energy (ASX:GRV) has swollen the footprint of its Douglas River uranium project by 70% and further backed its belief in the prospectivity of the Northern Territory's Pine Creek region as it prepares to start of exploration. Belararox (ASX:BRX) is gearing up to drill in Botswana later this month on its hunt for the next big discovery in the Kalahari Copper Belt. At Stockhead, we tell it like it is. While AnteoTech, Sovereign Metals, DY6 Metals, West Wits Mining, Horseshoe Metals and RareX are Stockhead advertisers, they did not sponsor this article.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store