Codan Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Alf Ianniello

Chief executive officer

AU$1.5m

Total compensation

CEO salary percentage	65.2%
CEO tenure	3yrs
CEO ownership	0.06%
Management average tenure	2.3yrs
Board average tenure	3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Alf Ianniello's remuneration changed compared to Codan's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	AU$1m	AU$973k	AU$81m
Mar 31 2024	n/a	n/a	AU$78m
Dec 31 2023	n/a	n/a	AU$75m
Sep 30 2023	n/a	n/a	AU$71m
Jun 30 2023	AU$1m	AU$987k	AU$68m
Mar 31 2023	n/a	n/a	AU$75m
Dec 31 2022	n/a	n/a	AU$82m
Sep 30 2022	n/a	n/a	AU$91m
Jun 30 2022	AU$1m	AU$519k	AU$101m

Compensation vs Market: Alf's total compensation ($USD927.92K) is below average for companies of similar size in the Australian market ($USD1.39M).

Compensation vs Earnings: Alf's compensation has increased by more than 20% in the past year.

CEO

Alf Ianniello (51 yo)

3yrs

Tenure

AU$1,492,838

Compensation

Mr. Alfonso Ianniello, also known as Alf, Wharton GCP, GradCertMgmt, BEng(Electronics), serves as Managing Director, Director and Chief Executive Officer at Codan Limited since January 4, 2022. He began as...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Alfonso Ianniello	MD, CEO & Director	3yrs	AU$1.49m	0.056% A$ 1.7m
S. Sangster	President & Executive GM of Tactical Communications	no data	AU$1.28m	0.057% A$ 1.7m
Ben Harvey	President & Executive GM of Minelab	1.3yrs	AU$1.05m	0.00077% A$ 22.7k
Scott French	President & Executive General Manager of Zetron	5.9yrs	AU$1.34m	0.033% A$ 980.3k
Michael Barton	CFO & Company Secretary	16.7yrs	AU$524.16k	0.073% A$ 2.1m
Kayi Li	Manager of Investor Relations	no data	no data	no data
Daniel Widera	General Counsel & Joint Company Secretary	2.3yrs	no data	no data
Daniel Hutchinson	Executive General Manager of Strategy	1.5yrs	no data	no data
Marjolijn Woods	Chief Human Resource Officer	2yrs	no data	no data

2.3yrs

Average Tenure

Experienced Management: CDA's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Alfonso Ianniello	MD, CEO & Director	3yrs	AU$1.49m	0.056% A$ 1.7m
Kathryn Gramp	Independent Non-Executive Director	9.2yrs	AU$116.42k	0.015% A$ 453.8k
Graeme Rodger Barclay	Independent Non-Executive Chairman	9.9yrs	AU$150.50k	0.069% A$ 2.0m
Heith MacKay-Cruise	Independent Non-Executive Director	1.8yrs	AU$106.72k	0.011% A$ 316.1k
Sarah Adam-Gedge	Independent Non-Executive Director	1.9yrs	AU$106.72k	0.010% A$ 301.4k

3.0yrs

Average Tenure

Experienced Board: CDA's board of directors are considered experienced (3 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/02 16:34
End of Day Share Price	2025/01/02 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Codan Limited is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Daniel Laing	Bell Potter
Cameron Bell	Canaccord Genuity
Tim Plumbe	CGS International

Codan Management

Management criteria checks 3/4

Key information

Recent management updates

MD, CEO & Director recently bought AU$341k worth of stock

Codan Limited, Annual General Meeting, Oct 23, 2024

Codan Limited, Annual General Meeting, Oct 25, 2023

Less than half of directors are independent

Codan Limited Announces Management Changes

Codan Limited Announces Management Changes

Recent updates

Codan Limited (ASX:CDA) agreed to acquire Skt2 LLC for $33.6 million.

Now 21% undervalued

MD, CEO & Director recently bought AU$341k worth of stock

Codan Limited, Annual General Meeting, Oct 23, 2024

Investor sentiment improves as stock rises 16%

Final dividend increased to AU$0.12

Codan Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2024, Payable on September 18, 2024

Full year 2024 earnings released

Codan Limited to Report Fiscal Year 2024 Results on Aug 22, 2024

Now 20% undervalued

Now 20% undervalued

First half dividend of AU$0.10 announced

First half 2024 earnings released: EPS: AU$0.21 (vs AU$0.17 in 1H 2023)

Investor sentiment improves as stock rises 16%

Codan Limited to Report First Half, 2024 Results on Feb 21, 2024

Now 21% undervalued

Codan Limited, Annual General Meeting, Oct 25, 2023

Full year 2023 earnings released

Codan Limited Announces Ordinary Fully Paid Dividend for Six Months Ended June 30, 2023, Payable on September 20, 2023

Codan Limited to Report Fiscal Year 2023 Results on Aug 17, 2023

Codan Limited (ASX:CDA) acquired Eagle NewCo Limited from NEC Software Solutions UK Limited for AUD 22 million.

Less than half of directors are independent

Codan Limited Announces Ordinary Fully Paid Dividend for Six Months Ended December 31, 2022, Payable on March 10, 2023

First half 2023 earnings released: EPS: AU$0.17 (vs AU$0.28 in 1H 2022)

Codan Limited Announces Management Changes

Codan Limited Announces Management Changes

Codan Limited to Report First Half, 2023 Results on Feb 16, 2023

Investor sentiment improves as stock rises 19%

Codan Limited Revises Earnings Guidance for the First Half Year Ended 31 December 2022

Insider recently bought AU$11m worth of stock

Now 21% undervalued after recent price drop

Now 22% undervalued after recent price drop

Independent Non-Executive Director recently bought AU$230k worth of stock

Codan Limited Announces Peter Leahy Intents to Retire as Director

Investor sentiment deteriorated over the past week

Codan Limited, Annual General Meeting, Oct 26, 2022

Codan Limited Appoints Daniel Widera as Joint Company Secretary, Effective 1 September 2022

Investor sentiment deteriorated over the past week

Full year 2022 earnings released: EPS: AU$0.56 (vs AU$0.50 in FY 2021)

Codan Limited Announces Ordinary Distribution for the Period of Six Months Period Ended June 30, 2022, Payable on 7 September 2022

Peter Leahy Not Stand for Re- Election as Director of Codan

Independent Non-Executive Director recently bought AU$108k worth of stock

MD, CEO & Director recently bought AU$106k worth of stock

Investor sentiment improved over the past week

MD, CEO & Director recently bought AU$182k worth of stock

First half 2022 earnings: EPS in line with expectations, revenues disappoint

Codan Limited Announces Ordinary Fully Paid Dividend for Six Months Ended December 31, 2021, Payable on March 10, 2022

Codan Limited Provides Earnings Guidance for the First Half of 2022

Independent Non-Executive Director recently bought AU$50k worth of stock

Independent Chairman recently bought AU$80k worth of stock

Investor sentiment deteriorated over the past week

Full year 2021 earnings released: EPS AU$0.50 (vs AU$0.35 in FY 2020)

Caterpillar Holdings Australia Pty. Ltd. competed the acquisition of Minetec Pty. Ltd. from Codan Limited (ASX:CDA).

MD, CEO & Executive Director recently sold AU$2.5m worth of stock

Caterpillar Holdings Australia Pty. Ltd. agreed to acquire Minetec Pty. Ltd. from Codan Limited (ASX:CDA) for approximately $14 million.

Codan Limited (ASX:CDA) completed the acquisition of Domo Tactical Communications, Inc from Marlin Equity Partners, LLC.

First half 2021 earnings released: EPS AU$0.23 (vs AU$0.17 in 1H 2020)

Revenue beats expectations

New 90-day high: AU$13.48

Codan Limited (ASX:CDA) entered into an agreement to acquire Domo Tactical Communications, Inc from a Private Equity company for approximately $100 million.

Codan Limited, Annual General Meeting, Oct 27, 2021

Investor sentiment improved over the past week

New 90-day low: AU$9.92

New 90-day low: AU$10.00

New 90-day high: AU$11.88

Earnings released

New 90-day high - AU$8.96

CEO Compensation Analysis

CEO