NAOS CEO Insights

November 24, 2023

CEO INSIGHTS – Week Ending 24 November 2023

“There’s a fallacy that Australia can’t do great manufacturing. Of course, we can. [Akubra] will always be Australian made”

Andrew Forest, Owner, Akubra

Industrial Property

“On the industrial front, the domestic market continues to provide strong tailwinds with Australia having the lowest vacancy rate globally at less than 1%” Jason Huljich, Co-CEO, Centuria Capital Group Ltd


“AI, the words on everybody's lips. It has been around in radiology for quite a while. Medicine and AI are well suited to each other, and imaging and AI, even better suited. Of the FDA [U.S. Food & Drug Administration] cleared algorithms, roughly 80% that have been cleared in health care are in health care imaging. So, it is the hot area at the moment” Sam Hupert, CEO, Pro Medicus Ltd

Technology & Sovereignty

“The number of sovereign AI clouds [cloud data staying on home soil] that are being built is really quite significant. And my guess is that almost every major region will have, and surely, every major country will have their own AI cloud” Jensen Huang, CEO, NVIDIA Corp


“Consumers are incredibly focused on value, probably more than I have really ever seen in any other point of time” Mike Schneider, CEO, Bunnings

“I definitely see a weakening of the consumer market and I think it's just prudent to plan on that continuing to get a little bit worse as we look out over the next 12 months” David Maura, CEO, Spectrum Brands Holdings Inc [household brand group of companies inc. Remington, George Foreman Grill & Russel Hobbs]

Sports & Health

“We are pleased with how our consumer is holding up within the sporting goods industry and then particularly that they're choosing DICK's increasingly to meet their needs. People are prioritizing a healthy and active lifestyle. They're prioritising team sports, outdoors, living, running, walking, all of those things” Lauren Hobart, CEO, DICKS Sporting Goods Inc

Consumer Electronics

“In the more recent macro environment, consumer demand has been even more uneven and difficult to predict” Corie Barry, CEO, Best Buy Inc

Regional Australia

“Specifically, there has been a decline in spending in regional areas of eastern Australia, contrasting with the more robust performance in metropolitan and CBD locations" Market Statement, Universal Store Holdings Ltd


“There’s a fallacy that Australia can’t do great manufacturing. Of course, we can. [Akubra] will always be Australian made” Andrew Forest, Owner, Akubra

Subscribe to NAOS News & Insights

Join our investment community. Be the first to receive NAOS News, Podcasts, Insights and Invitations.

By subscribing, you consent to NAOS using your personal information in accordance with its Privacy Policy, a copy of which is available here.

Food Service & Hospitality

“It's become increasingly complex to operate in our industry, managing risks and adapting to heightened clients and consumer expectations. But whether it's bringing people together, health and well-being, digital concepts or sustainability, food has become increasingly important” Dominic Blakemore, CEO, Compass Group Plc [world's largest food service group]

“Maybe Thursday night will become the Friday night of tomorrow. On Friday, you do something else; you entertain, but differently, at home, with friends. In my world of lounges, bars, restaurants, friendship, parties, it’s changed a lot” Nathalie Vranken, Co-Owner, Vranken-Pommery Monopole [world’s second largest champagne group]

Mining & Resources

“Production across most commodities is forecast to remain at current levels or higher, supporting continued sustaining capital and maintenance spend” Zoran Bebic, CEO, Monadelphous Group Ltd


“The global economy remains uncertain but global demand for travel remains resilient” John Guscic, MD, Webjet Ltd


“Demand for funeral services is not correlated to inflation, interest rates or the economic cycle and Propel continues to be well positioned to generate sustainable long-term growth and value creation” Albin Kurti, CEO, Propel Funeral Partners Ltd


“If you look today on energy transition, we all have to say probably looks different than we all expected two years ago. It's more complex. It requires more technology. It will probably cost more money. It will take longer” Christian Bruch, Siemens Energy AG

“General purpose computing is too wasteful of energy and cost. Now that we have much, much better approaches called accelerated computing [the use of specialised hardware], you could save an order of magnitude of energy. You could save an order of magnitude of time or you can save an order of magnitude of cost” Jensen Huang, CEO, NVIDIA Corp

Transport & Infrastructure

“As I mentioned earlier, as weather conditions stabilise, we are experiencing improved productivity across most parts of our business, although this has been partially offset by lower spending by Transport Agencies, particularly in Victoria and South Australia, in the first four-and-a-half months of the financial year” Peter Tompkins, CEO, Downer EDI Ltd

Related Articles