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Senior executives to avoid Davos forum
The Australian 12:00am January 18, 2017
Ben Butler
Australian chief executives have shunned the annual World Economic Forum at Swiss ski resort Davos this week amid a global wave of anti-elite populism that has culminated in the election of Donald Trump as president of the US.
However, two Australian government ministers mired in a furious debate over politicians’ entitlements have made the trip to the exclusive alpine getaway.
Attending the conference, which runs until the end of the week, are Trade Minister Steve Ciobo, who claimed expenses of more than $1100 to travel to the 2013 AFL grand final, and Finance Minister Mathias Cormann, who billed taxpayers $23,000 for weekend trips to Broome with his wife over a period of five years.
Mr Ciobo plans to discuss possible trade deals with Indonesia and a post-Brexit Britain while Senator Cormann will participate in the forum and meet with overseas government and business leaders. The political pair will join top regulators and trade union officials at the event, which this year will confront the rising opposition to globalisation and free trade.
A list of Australian attendees seen by The Australian shows former ACTU president Sharan Burrow present in her capacity as general secretary of the Brussels-based International Trade Union Confederation.
The Australian has confirmed that Australian Securities & Investments Commission chairman Greg Medcraft is to co-ordinate two roundtables during the conference — one on long-term investment in infrastructure and the other on balancing technological innovation with financial stability and economic growth. Following Davos, he will meet fellow European regulators in France.
However, Westpac chief executive Brian Hartzer has shied away from following in the footsteps of his predecessor Gail Kelly, who attended Davos last year.
Chief financial officer Peter King is flying the flag for the bank instead.
Similarly, Wesfarmers CEO Richard Goyder, who went last year, is a no-show but the managing director of its industrials division, former Olympic rower Rob Scott, is listed as attending. A new face this year is Rob Rankin, listed as attending in his role as chairman of James Packer’s private empire, Consolidated Press Holdings.
Until last week, when the gambling magnate shook up management of his empire, Mr Rankin was CEO of CPH and chairman of Mr Packer’s publicly listed casino group, Crown Resorts.
Elsewhere, Etihad global chief executive James Hogan has been invited, as well as top DFAT official Frances Lisson and Australian Institute of Company Directors chairman Elizabeth Proust.
Among global attendees at Davos this year are US Vice-President Joe Biden and US Secretary of State John Kerry. Chinese President Xi Jinping will also be addressing attendees.
Among the global executives who are attending the conference are Facebook’s Sheryl Sandberg and JPMorgan Chase chief Jamie Dimon. Hollywood actors Matt Damon and Forest Whitaker are scheduled to attend, as is Microsoft chairman Bill Gates. The Australian delegates have been invited to a reception hosted by ANU vice-chancellor Brian Schmidt.
He said every year about 40 Australians made the trip to Davos with the event’s motto — “helping make the world a better place” — in mind. “But we typically do not have a time or place to meet up and figure out how we might work together at this grand endeavour,” he said.
“As the head of Australia’s national university, and as someone who is asked to attend Davos, I thought it appropriate for the ANU to facilitate the gathering of what is an amazingly diverse set of Australian attendees.”