Alex Malley, is an Australian accountant and business executive who is currently the CEO of the Australian Chiropractors Association since 2022, and the former chief executive of CPA Australia from 2009 to 2017. He was removed by the CPA board of directors in late June 2017 after months of controversy regarding his salary and the use of CPA funds for self-promotion of his book and TV program.[1][2]
Alex Malley | |
|---|---|
| Education | Trinity Grammar School |
| Alma mater | University of New South Wales (BComm 1983, MComm 1985) |
| Occupation | Accountant |
| Known for | CEO, CPA Australia (2009–17) |
| Television | In Conversation with Alex Malley |
Early life
editThe son of Maltese-Greek parents, Malley grew up in the inner Sydney suburb of Strathfield, where he attended Trinity Grammar School.[3] In 1980–1985, Malley attended the University of New South Wales, receiving a Bachelor of Commerce in 1983, and a Master of Commerce in 1985.[4][5]
Career
editMalley began his career working in finance at the Commonwealth Bank of Australia.[3] He quit the job and began working as a finance lecturer first at the University of Western Sydney, and then as an accounting academic at Macquarie University from 1993. In 2006, Malley was an associate professor in accounting and was allegedly allowed to resign his position at the university, including his elected position on the university council, under a confidential settlement reached following complaints that he allegedly directed many of his first-year students to undertake paid tutorials through his wife's company, in return for bonus marks in his courses.[6]
Following his departure from Macquarie University, in late 2006 Malley was appointed Chief Executive Officer of the Urological Society of Australia and New Zealand. Malley left this role in late 2009, when he was appointed CEO of CPA Australia; he remained a director of the Urological Society until November 2015 and on his departure was awarded honorary membership of the society.[7][8][9][10][11]
CPA Australia
editIn 1998, Malley was elected to the NSW divisional council of the professional accounting body, CPA Australia, and in 2000 unsuccessfully applied to be the NSW division's director.[3] However, in 2003 Malley became president of the NSW Division of CPA Australia, and then one of 16 national directors, rising to be vice-president of the CPA Australia board in 2005, and deputy president in 2006.[3][12] In October 2007 Malley was appointed as the president of CPA Australia.[3][13] In early 2009, Malley stepped down as president and was succeeded by his former Macquarie University colleague, Professor Richard Petty, and was appointed the CEO of the organisation in July 2009, commencing from 12 October 2009.[14][15]
As CEO of CPA Australia, Malley came under significant criticism in the media and from CPA members in 2017 for his A$1.8 million annual salary and for the significant amounts of CPA funds going towards promoting Malley and his personal interests, such as a paid television show and Malley's book, The Naked CEO.[16] The scandal surrounding Malley, combined with broader member discontent over executive changes that made the board unaccountable and debts accrued from the establishment of a financial planning arm, led to the resignation of the CPA president and two board members by June 2017. The two resigning board members, Richard Alston and Kerry Ryan, cited the presence of "board allies of chief executive Alex Malley" refusing to "allow a wide-ranging review of Mr Malley and the organisation" as their main reason.[17]
On 15 June, a further three directors resigned due to the expanding scandal surrounding Malley and the remaining board initiated an "independent review" of all claims made against CPA and its CEO, to be chaired by former chief of the Australian Defence Force, Sir Angus Houston.[16] However, even the decision to create the review came under criticism when it was revealed that Houston had appeared as guest on Malley's TV program and had written a glowing foreword in Malley's book.[18] Houston later resigned his post in favour of former Commonwealth Auditor-General, Ian McPhee.[16]
Facing a significant swelling of discontent amongst CPA members, on 23 June 2017 it was announced that the CPA board had terminated the contract of Malley, resulting in CPA paying out the remainder of his contract to the sum of A$4.9 million.[19][20] The subsequent review report released in September 2017 found that the "chief executive was overpaid, [CPA Australia] had lost touch with its members and provided questionable value for money for the services it rendered."[21][22] In addition to CPA's "over-emphasis on marketing and brand building activities that centred on the former CEO", the review in particular noted the excessive CEO's salary, with its many increases over several years not being justified by organisational growth.[23]
In January 2019, following the recommendations of the 2018 AGM, Malley and three previous directors (Penny Egan, Richard Petty, and Graeme Wade) were stripped of their Life Memberships by the Board for their involvement in the controversy.[24][25][26][27]
Australian Chiropractors Association
editIn July 2022, it was revealed that Malley had taken the position of CEO of the Australian Chiropractors Association, which was based at its headquarters in Melbourne. On his appointment, Joe Aston of the Australian Financial Review opined: "The ACA has hired someone even more skilled at manipulation than they are", while the Sydney Morning Herald noted: "Perhaps the back scratchers have short memories ... [Malley is] Proof, if ever, that there’s hope for the cancelled yet."[28][29]
References
edit- ^ "CPA chief Alex Malley sacked, will walk away with $4.9m". The Sydney Morning Herald. 24 June 2017. Retrieved 23 June 2017.
- ^ "CPA Australia money trail: Why accountants want a closer look at their organisation's books – ABC News (Australian Broadcasting Corporation)". ABC News. 15 May 2017. Retrieved 23 June 2017.
- ^ a b c d e Patrick, Aaron; Durkin, Patrick (13 June 2017). "CPA Australia's Alex Malley: the world's most ambitious accountant". Australian Financial Review. Retrieved 21 March 2018.
- ^ "No Fear, No Embarrassment: Alex Malley Inspires at Career Mentor Closing Ceremony" (Media Release). UNSW. 26 October 2015. Retrieved 4 September 2023.
- ^ "Meet the boss: Alex Malley, Chief executive, CPA Australia". The Australian. 19 April 2013. Retrieved 4 September 2023.
- ^ Aston, Joe (26 March 2017). "CPA's Alex Malley's confidential Macquarie Uni exit". The Australian Financial Review. Retrieved 4 September 2023.
- ^ "Executive 2006/07". Urological Society of Australia and New Zealand. Archived from the original on 1 September 2007. Retrieved 4 September 2023.
- ^ "2009/10 Board of Directors composition". Urological Society of Australia and New Zealand. Archived from the original on 12 October 2009. Retrieved 4 September 2023.
- ^ "Executive Management Group > Alex Malley FCPA - Chief Executive Officer". Urological Society of Australia and New Zealand. Archived from the original on 12 October 2009. Retrieved 4 September 2023.
- ^ Aston, Joe (26 March 2017). "Macquarie University bequeathed Alex Malley to CPA Australia members". The Australian Financial Review. Retrieved 4 September 2023.
- ^ "2015 Annual Report" (PDF). Urological Society of Australia and New Zealand. Retrieved 4 September 2023.
- ^ "Annual Report 2008" (PDF). CPA Australia. Retrieved 4 September 2023.
- ^ "A brief history of Alex Malley's unraveling CPA fiasco". Crikey. 5 June 2017. Retrieved 15 June 2017.
- ^ "CPA Australia elects new president". CPA Australia. 3 March 2009. Archived from the original (Media Release) on 8 December 2010. Retrieved 4 September 2023.
- ^ "CPA Australia announces new CEO". CPA Australia. 20 July 2009. Archived from the original (Media Release) on 8 December 2010. Retrieved 4 September 2023.
- ^ a b c Aston, Joe (24 January 2018). "Alex Malley: What a difference a year makes". Australian Financial Review. Retrieved 21 March 2018.
- ^ Aston, Joe; Tadros, Edmund; Patrick, Aaron; Durkin, Patrick (7 June 2017). "Richard Alston quits CPA Australia board over governance". Australian Financial Review. Retrieved 21 March 2018.
- ^ Letts, Stephen (16 June 2017). "CPA chief Alex Malley keeps his job but faces 'fiercely independent' review over ongoing controversy". ABC News. Retrieved 21 March 2018.
- ^ Hobday, Liz (24 June 2017). "CPA terminates contract with chief executive Alex Malley". ABC News. Retrieved 21 March 2018.
- ^ Aston, Joe; Tadros, Edmund (23 June 2017). "CPA Australia CEO Alex Malley sacked". Australian Financial Review. Retrieved 21 March 2018.
- ^ Letts, Stephen (15 September 2017). "CPA review finds CEO overpaid and organisation 'out of touch' with members". ABC News. Retrieved 21 March 2018.
- ^ Tadros, Edmund (7 August 2017). "Inside story of Alex Malley's final days at CPA Australia". Australian Financial Review. Retrieved 21 March 2018.
- ^ Pash, Chris (14 September 2017). "CHARTS: How the salary of CPA Australia's chief executive grew faster than membership". Business Insider Australia. Archived from the original on 14 September 2017. Retrieved 7 May 2018.
- ^ Taurian, Katarina (31 January 2019). "Alex Malley, former directors stripped of CPA life memberships". accountantsdaily. Retrieved 17 September 2020.
- ^ "Statement from the Board". CPA Australia. 31 January 2019. Archived from the original (Media Release) on 27 March 2019. Retrieved 4 September 2023.
- ^ Durkin, Patrick; Tadros, Edmund (22 May 2018). "Fiery CPA AGM calls for stripping Alex Malley's life membership". The Australian Financial Review. Retrieved 4 September 2023.
- ^ Aston, Joe (30 January 2019). "Malley, Petty, Wade, Egan stripped of CPA life membership". The Australian Financial Review. Retrieved 4 September 2023.
- ^ Aston, Joe (5 July 2022). "Alex Malley rises from the ashes". The Australian Financial Review.
- ^ Napier-Raman, Kishor; Towell, Noel (5 July 2022). "After Australia's 'first cancel culture example', disgraced former CPA boss Alex Malley is back". The Sydney Morning Herald. Retrieved 3 September 2023.
Published works
edit- Malley, Alex (2015), The Naked CEO: the truth you need to build a big life, Milton, QLD: John Wiley and Sons Australia, Ltd, ISBN 978-0-7303-1459-2