Orica's explosive recovery

New management has brought Orica into the new century by implementing treasury and risk policies that have streamlined operations in these fields and integrated them into the firm's corporate strategy. By Roger Hogan

Ironically, for a company that describes itself as the world's leading supplier of commercial explosives, Australia-based Orica nearly imploded four years ago when struggling to change a long-established culture in order to deal with the challenges of globalisation. A new chief executive officer and two new chief financial officers (CFOs) later, the company is in robust good health, which is underpinned by a strong treasury operation.

Treasurer Frank Micallef makes few claims for his team's role

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