Matilda Smith

Michael Riches is an Australian public sector leader whose career has been shaped by law enforcement, government legal practice, public integrity reform, and statutory oversight. He is best known for his role as the Independent Commissioner Against Corruption for the Northern Territory, a position that places him at the centre of the Territory’s integrity and accountability framework.

Over the course of his professional life, Riches has progressed from frontline policing into senior legal advisory roles and ultimately into leadership within Australia’s integrity institutions. His career reflects sustained engagement with governance, regulation, and ethical administration across multiple levels of the public sector.

This article provides a complete and structured account of Michael Riches’ education, career, and statutory responsibilities, focusing on his professional journey and the institutional context in which he has operated.

Independent Commissioner Against Corruption for the Northern Territory

Michael Riches commenced as the Independent Commissioner Against Corruption of the Northern Territory on 6 July 2021. The Commissioner is an independent statutory office holder whose functions are established under the ICAC Act. The role is designed to operate independently of government and plays a central role in maintaining integrity across the Northern Territory public sector.

As Independent Commissioner Against Corruption, Riches is responsible for overseeing the Territory’s anti-corruption framework. This includes responsibility for addressing corruption risks, supporting ethical conduct, and ensuring accountability within public institutions. The position carries statutory authority and requires careful balance between investigative functions, procedural fairness, and institutional independence.

Scope and jurisdiction of the Northern Territory ICAC

The Northern Territory ICAC has jurisdiction across public sector bodies and officials within the Territory. This includes oversight of agencies, officers, and entities that fall within the public administration framework. The Commissioner’s role extends to matters concerning public sector conduct, governance systems, and integrity risks that may arise within government operations.

The breadth of this jurisdiction places the Commissioner in a position of significant responsibility, requiring oversight of integrity issues that affect a wide range of public functions and services.

Preventive and educational functions of the ICAC

In addition to addressing allegations and risks of corruption, the ICAC framework places emphasis on prevention and education. The Commissioner’s responsibilities include promoting integrity awareness and supporting measures designed to reduce the likelihood of misconduct within public institutions.

These functions recognise that effective anti-corruption systems rely not only on investigation but also on education, guidance, and institutional strengthening. Through this approach, the ICAC contributes to long-term improvements in public sector governance and ethical standards.

Leadership and organisational responsibilities

The role of Independent Commissioner Against Corruption involves both statutory and leadership responsibilities. Beyond the exercise of statutory functions, the Commissioner provides direction and leadership to the ICAC organisation itself. This includes oversight of governance arrangements, internal processes, and the effective operation of the office in accordance with legislative requirements.

This dual responsibility reflects the executive nature of the role, combining institutional leadership with independent statutory authority.

Independence and safeguards built into the ICAC role

The role of Independent Commissioner Against Corruption is structured to operate with a high degree of independence. The Commissioner exercises functions under legislation rather than direction from government or political office holders. This design is intended to protect the integrity of decision-making and ensure that corruption risks can be addressed without improper influence.

Independence is supported through statutory safeguards, defined powers, and formal reporting mechanisms. These arrangements are central to maintaining public confidence in the ICAC’s work and ensuring that integrity oversight is conducted impartially and consistently across the public sector.

Contribution to long-term integrity culture in the public sector

Beyond individual matters and oversight functions, the work of the ICAC contributes to the development of a long-term integrity culture within the public sector. Through guidance, engagement, and systemic focus, the Commissioner’s role supports improved awareness of ethical standards and governance responsibilities among public officers.

This broader contribution reflects an understanding that effective integrity systems depend on organisational culture as well as compliance. By supporting ethical decision-making and accountability frameworks, the ICAC’s work influences how public institutions approach risk, transparency, and responsibility over time.

Areas of professional expertise

Michael Riches’ professional expertise centres on regulation, governance, and integrity systems. His career demonstrates sustained involvement in frameworks designed to prevent misconduct, manage risk, and promote accountability within public institutions.

His experience spans operational policing, legal advisory work, institutional reform, and statutory leadership. These roles collectively reflect a professional focus on ethical administration and the effective functioning of integrity systems.

Academic qualifications and education

Michael Riches holds an Honours Degree in Law and Legal Practice from Flinders University in South Australia. In addition to his legal qualification, he holds a Degree in Arts and a Diploma in Public Safety.

These academic qualifications provided the foundation for a career combining law enforcement experience with legal and governance responsibilities. His education reflects a multidisciplinary background encompassing law, public administration, and operational understanding.

He is also undertaking a Master’s Degree in Corruption and Governance through the Centre for the Study of Corruption at the University of Sussex in England, reflecting continued engagement with academic study in integrity and governance.

Early career in policing

Before entering legal practice, Michael Riches spent almost nine years as a police officer with South Australia Police. During this period, he worked across a range of operational and corporate roles, including general policing duties, tactical teams, police communications, and media liaison.

This experience provided exposure to frontline law enforcement, operational decision-making, and public communication. It also contributed to an understanding of accountability and ethical conduct within policing environments, which later informed his work in legal and integrity oversight roles.

Legal work within policing environments

After completing his Law and Legal Practice Degree, Michael Riches worked as a solicitor in the Police Legal Branch. In this role, he provided legal advice supporting policing operations and governance, assisting with compliance, interpretation of legal obligations, and lawful decision-making.

This role represented a continuation of his engagement with law enforcement, combining practical operational knowledge with legal expertise.

Career at the Crown Solicitor’s Office

Michael Riches later joined the Crown Solicitor’s Office, where he worked in the Civil Litigation Section, the Advising Section, and as counsel in the Crown Counsel Section. His work involved advising state government agencies across a wide range of legal matters.

He appeared as counsel in multiple proceedings, including several high-profile coronial inquiries. These matters typically involve complex legal and factual issues and require careful consideration of public interest, accountability, and procedural fairness.

Contribution to legal education

Alongside his government legal roles, Michael Riches worked part-time as a tutor at the University of Adelaide Law School. In this capacity, he contributed to the education of law students, drawing on his experience in policing, litigation, and public sector legal practice.

This involvement reflects engagement with legal education and professional development within the legal community.

Role in public integrity reform in South Australia

Michael Riches was a member of the Public Integrity Reform team in South Australia and took a lead role in the establishment of the South Australian Office of the Independent Commissioner Against Corruption and the Office for Public Integrity.

The creation of these bodies represented a significant development in South Australia’s integrity framework. His involvement placed him at the centre of institutional design and implementation, contributing to the development of structures intended to strengthen accountability and ethical governance within the public sector.

Senior leadership within integrity institutions

Following the establishment of the integrity offices, Michael Riches held the position of Senior Legal Officer before being appointed Director of Legal Services and Reviews. These roles involved legal oversight, review functions, and support for the integrity bodies’ statutory responsibilities.

In December 2016, he was appointed Chief Executive Officer of the Independent Commissioner Against Corruption and the Office for Public Integrity in South Australia. As CEO, he was responsible for organisational leadership, operational management, and support for statutory office holders.

Deputy Independent Commissioner Against Corruption in South Australia

Michael Riches became the South Australian Deputy Independent Commissioner Against Corruption on 26 October 2018. This appointment reflected senior standing within the integrity system and involved assisting the Commissioner in fulfilling statutory responsibilities related to corruption prevention, investigation, and education.

National context of integrity commissions in Australia

The work of the Northern Territory ICAC exists within a broader national framework of integrity and anti-corruption bodies across Australia. While each jurisdiction operates under its own legislation, these institutions share common objectives related to accountability, ethical conduct, and public confidence in government.

Michael Riches’ career across South Australia and the Northern Territory places his work within this wider national integrity landscape, contributing to shared principles of governance and oversight.

Appointment to the Northern Territory ICAC

Michael Riches’ appointment as Independent Commissioner Against Corruption for the Northern Territory marked the continuation of a career focused on integrity leadership. Commencing on 6 July 2021, he assumed responsibility for leading the Territory’s anti-corruption framework under the ICAC Act.

The role requires balancing investigative authority, institutional leadership, and independence, while supporting effective governance across the public sector.

Professional standing and expert contribution

Michael Riches is recognised within professional and academic contexts as an experienced practitioner in regulation and integrity. His background combines policing, legal practice, institutional reform, and statutory leadership, providing a broad perspective on integrity systems and governance.

Conclusion

Michael Riches’ career reflects long-term involvement in Australia’s integrity and accountability landscape. From frontline policing to senior legal advisory roles and leadership within statutory integrity bodies, his professional path has been shaped by responsibilities that emphasise governance, regulation, and ethical administration.

His service as Independent Commissioner Against Corruption for the Northern Territory represents the culmination of decades of experience in law enforcement, public sector law, and integrity reform. While his professional contributions are well established through statutory appointments and leadership roles, his personal life remains outside the scope of professional disclosure, consistent with the nature of independent statutory office.

FAQs

Who is Michael Riches?

Michael Riches is an Australian public sector leader known for his work in law enforcement, government legal services, and public integrity. He served as the Independent Commissioner Against Corruption for the Northern Territory.

What is the role of the Independent Commissioner Against Corruption?

The Independent Commissioner Against Corruption is responsible for overseeing integrity systems within the public sector, addressing corruption risks, and supporting ethical conduct under the ICAC Act.

When did Michael Riches become the NT Independent Commissioner Against Corruption?

Michael Riches commenced as the Independent Commissioner Against Corruption of the Northern Territory on 6 July 2021.

What experience did Michael Riches have before becoming ICAC?

Before his appointment, Michael Riches worked in policing, government legal services, integrity reform, and senior leadership roles within South Australia’s integrity institutions.

Did Michael Riches work as a police officer?

Yes. Michael Riches spent almost nine years with South Australia Police, working in both operational and corporate roles.

What legal roles did Michael Riches hold?

Michael Riches worked as a solicitor in the Police Legal Branch and later at the Crown Solicitor’s Office, where he advised government agencies and appeared as counsel in coronial inquiries.

Is Michael Riches involved in any public controversies?

There is no information indicating involvement in personal legal cases or controversies. His public profile is focused on statutory roles and governance responsibilities.

Is Michael Riches the same person as the corporate executive with the same name?

No. Michael Riches, the Independent Commissioner Against Corruption, is a different individual from the Australian infrastructure executive who shares the same name.

Kay Van Norton Poché was a woman whose generosity, spirit and determination reshaped Australian healthcare and community support in ways that will be felt for generations. Known for her kindness, her humour and her fierce commitment to helping others, Kay devoted her life to strengthening cancer research, melanoma care, Indigenous health and youth palliative services across the country. Working alongside her husband, Greg Poché AO, she helped establish groundbreaking medical facilities, funded life-saving clinical trials and championed opportunities for communities too often overlooked. Her passing in 2024 marked the end of an extraordinary life, but the work she set in motion continues to grow, transforming countless lives through the centres, programs and research she helped bring to life.

Marrickville beginnings and a modest family life

Greg was born in 1942 in Marrickville, a town renowned for its working-class family and multiculturalism. His childhood was straightforward, influenced more by everyday routines than by exceptional opportunities, and his father was an electrician. Greg has always maintained his family’s privacy, therefore information about his mother and siblings has never been disclosed. However, it is known that he learned the virtues of justice, integrity, and diligence in his early years.

Resilience was something that children in post-war Sydney had to acquire at an early age. Like many households in Marrickville at the time, the Poché family depended on ingenuity and pragmatism. These early teachings subsequently served as Greg’s guiding principles. He credited his modest and formative origins for forming his perspective and motivating his dedication to aiding others without access to assistance, even decades after becoming very wealthy.

Dropping out of school early and pursuing his studies at his own pace

Greg did not feel very involved in school, and after earning his Intermediate Certificate at the age of fourteen and ten months, he dropped out. He started working right away, accepting a desk job with the NSW railways that paid just a few pounds per week. For a youngster, it was a steady job, but he soon saw the limits of the position. He chose to work as a builder’s labourer, a physically hard job that paid more, after leaving the trains in search of a greater salary.

Greg was aware that education was necessary for long-term advancement even at this point. He enrolled in night courses because he was determined not to let his early exit from school restrict his future. He adhered to a strict schedule for years, working a full-time job during the day and studying for four hours every night, five days a week. He eventually finished his Leaving Certificate, which is an impressive accomplishment considering the strain and exhaustion of juggling a hard job with severe study.

He continued to work a full-time job and study part-time after completing his secondary education. After graduating from the New South Wales Institute of Technology (formerly known as the University of Technology Sydney) with a degree in business, he went on to gain degrees in operations management and business management. His confidence was bolstered by these years of independent learning, which also paved the way for the establishment of one of Australia’s most prosperous freight companies.

Joining the Workforce and Choosing His Career Path

Greg worked in pharmaceutical sales after earning his degree, where he learned a lot about business structure, relationship-building, and communication. He flourished in the position and gained a solid understanding of customer-focused work. He got a job with TNT in 1970 as the express freight division’s national marketing manager. It was a big step up into a senior position that exposed him to national operations and extensive logistics.

Gregory lost faith in the freight industry’s structure despite the possibilities. He saw activities, such as pricing schemes dictated by market leaders, that he felt were unjust to consumers. As his discontent increased, he became certain that he could provide something better. After barely fourteen months at TNT, he took the audacious choice that would forever alter his life: he left a stable job to launch his own express freight company.

Starting a Freight Company That Put an Entire Industry to the Test

Greg started Discount Freight Express, which went on to become Multigroup Distribution Services and, eventually, the well-known Star Track Express. He concentrated on providing reasonable prices, effective service, and dependable logistics from the start of the company. This put him in direct opposition to the market’s biggest freight businesses, TNT, Mayne Nickless, and Ansett Transport Industries.

These businesses were subsequently discovered to have participated in anti-competitive behaviour as members of a large cartel. Greg offered openness and competition, challenging their methods. As a result of his activities, the Trade Practices Act was used to pursue one of the most important court cases in Australian business history. The corporations implicated were fined millions of dollars as a result of the judgement. Holding an industry responsible was a personal as well as a commercial win for Greg. His greatest professional accomplishment, he subsequently said, was dismantling the cartel’s power.

Standing up to such powerful interests required a great deal of bravery, particularly for a relatively new operation. But Greg’s strong sense of justice kept him unwavering. Star Track Express developed into one of Australia’s top express freight firms throughout time, renowned for its dependability, honesty, and customer care. His firm transformed the freight industry thanks to his strategic vision, work ethic, and comprehension of client demands.

Star Track Express Success and a Life-Changing Event

Star Track Express had expanded to hold a sizable portion of Australia’s multibillion-dollar freight industry by the time Greg sold it in 2003. After selling it to Qantas and Australia Post for over $750 million, Greg became one of the richest businessmen in the nation. However, his sense of self remained unaffected by his financial achievement. A guy who had been raised without luxury did not find extravagant spending appealing. His well-known quip about having just three sports shirts encapsulated his simplicity, humility, and lack of interest in material possessions.

Greg saw the sale of Star Track as the start of a far more important chapter in his life—one devoted to serving others rather than the conclusion of a single profession. It took some time to decide to go from business to charity. It developed from discussions on privilege, opportunity, and the glaring disparities in health outcomes for many Australians, especially Indigenous communities, with his wife, Kay. They were more committed to using their riches for good the more they looked into how they might be of assistance.

Kay Van Norton Poché and I Founded a Philanthropic Vision

Greg and Kay were deeply committed to helping those without access to assistance and medical treatment. Their groundbreaking $40 million commitment to the Mater Hospital Sydney in 2005 to create a melanoma research and treatment facility was their first significant charitable venture. The Melanoma Institute Australia, located at The Poché Centre, was founded thanks to this donation. At the time, it was the biggest gift an Australian had ever given to a single charity.

The institution swiftly rose to prominence as a world leader in melanoma research and therapy. The Poché Centre brought together researchers, surgeons, oncologists, nurses, and students under one roof when it debuted in 2010, fostering a collaborative atmosphere that sped up discoveries and improved patient outcomes. Since then, the facility has treated thousands of Australians, and Greg and Kay’s assistance has influenced immunotherapy advancements.

Every year, the pair continued to support MIA by providing financing for therapeutic trials, education initiatives, and continuing research. They often participated in Melanoma March events, particularly in Manly, where they spoke with families whose lives had been spared or prolonged by therapies made possible by their efforts. For individuals dealing with terrifying diagnoses, their support and presence offered consolation and hope.

Changing Indigenous Health Nationwide

Greg and Kay made significant contributions to the advancement of Indigenous health in Australia in addition to their work in melanoma research. In order to establish the first Poché Centre for Indigenous Health, they donated $10 million to the University of Sydney in 2008. This institute supported research, trained Indigenous health professionals, and strengthened culturally directed healthcare delivery in an effort to reduce the significant health disparity between Indigenous and non-Indigenous Australians.

The Sydney center’s success inspired Greg and Kay to broaden its scope. In order to establish additional Poché Centres at Flinders University, the University of Queensland, the University of Western Australia, and the University of Melbourne, they eventually contributed more than $50 million. The federal Health Minister established a national Indigenous health network in 2015 with Professor Tom Calma AO as its patron and chair as a result of their support. This network improved long-term plans for improving Indigenous health and became one of the most important philanthropic partnerships among Australian institutions.

Greg and Kay enabled Indigenous scholars, researchers, and community leaders to develop health solutions based on cooperation and cultural awareness via these projects. In order to prepare the next generation of physicians, nurses, psychiatrists, and public health specialists, the centres continue to educate an expanding Indigenous health workforce.

Assisting Youth With Life-Limiting Conditions

When Greg and Kay donated $6 million to support the founding of the Manly Adolescent and Young Adult Hospice, they expanded their charity to include young people with critical medical needs. Offering respite, symptom management, and end-of-life care to individuals aged 15 to 24, this institution became the first of its type in Australia. It was created to help families dealing with tragic situations by offering them dignity, tranquility, and support during their most trying times.

The couple’s idea that healthcare should go beyond hospitals and provide young people with specialist care, compassion, and respect is reflected in the hospice.

A Last Present That Revolutionised Cancer Research

During her own sickness in 2024, Kay shifted her attention to helping Australian cancer sufferers get access to clinical trials. She and Greg backed the establishment of a $20 million clinical trials research centre run by the Northern Sydney Local Health District in collaboration with the famous Memorial Sloan Kettering Cancer Centre in New York. The new facility, called the North Sydney studies and Research Van Norton Poché facility, started to sign up Australians for clinical studies that were already taking place in the US, such as those for throat, stomach, and breast cancer.

Clinical trials abroad are financially or logistically unfeasible for many Australians. By bringing foreign research to nearby hospitals and enabling patients to get novel therapies without travelling abroad, this institute altered that. Kay’s taped message before her death, in which she urged patients and researchers to keep fighting and to utilise all available resources to “beat this to death,” is reflected in the effort.

Honours, Acknowledgement, and National Impact

Greg has received much recognition in Australia for his achievements. Because of his contributions to business and society, he was named an Officer of the Order of Australia in 2009. A number of Australian institutions, including the University of Western Australia and the University of Melbourne, awarded him and Kay honorary doctorates in recognition of their outstanding leadership in Indigenous assistance and healthcare. Major health institutions commemorate their charitable endeavours and attribute some of the nation’s most significant medical advancements to the pair.

Personal Philosophy, Lifestyle, and Character

Greg has always led a modest life despite the extent of his fortune. He enjoys simple life, stays away from extravagant events, and despises attention. He publicly showed little interest in frivolous expenditures, and he reportedly made a joke about having just three sports shirts—a story that is often used to highlight his modesty. He has maintained his groundedness throughout his life, prioritising integrity over recognition and purpose over prestige.

In terms of his personal and charitable life, his marriage to Kay was crucial. They have the same goal of assisting those without access to quality medical care. Their investments were long-term commitments meant to bring about long-lasting change rather than quick charitable deeds. Although Greg’s children are known to exist, specifics about them are kept confidential, in keeping with his quiet and secluded lifestyle.

Riches and Goals

Greg’s net worth has varied throughout the years, with Forbes listing him as one of Australia’s 50 wealthiest people in 2015, The Australian putting it at around $566 million in 2019, and BRW estimating it at $932 million in 2010. He has never, however, quantified his accomplishment in terms of money. For Greg, having money has never been a status symbol but rather a chance to effect change. Few people could equal the impact of his more than $100 million in contributions on the nation’s healthcare system.

An Enduring Heritage for Australia

The life of Greg Poché AO is an example of fortitude, morality, and kindness. His narrative demonstrates how one person can significantly alter a country, starting with his early years of physical labour while studying at night, continuing with the establishment of a freight firm that opposed large companies, and concluding with his latter years of generosity that saves lives every day.

Global cancer survival rates have increased as a result of his contributions to melanoma research. Workforce development, community leadership, and culturally sensitive healthcare have all benefited from his support of Indigenous health. His dedication to clinical trials is already enabling Australians to access medications that were previously only accessible abroad, and his work in juvenile palliative care provides young people with comfort and dignity.

He and Kay left behind a legacy of kindness, bravery, and purposeful action. Their influence keeps expanding, influencing next generations of scholars, physicians, families, and communities. Greg’s life continues to serve as a potent illustration of how to use achievement to inspire others and the remarkable results that may arise when willpower and purpose are combined.

Conclusion

The life of Greg Poché AO is a unique illustration of what may be accomplished with perseverance, modesty, and a strong sense of obligation. His journey from a humble upbringing in Marrickville to becoming one of Australia’s most prosperous freight enterprises exemplifies the power of desire defined by perseverance rather than privilege. But what really makes him unique is his dedication to give back. He and his late wife, Kay Van Norton Poché AO, had a vision that changed melanoma research, increased access to cancer treatment, transformed Indigenous health programmes, and established vital care services for young people with terminal illnesses.

Thousands of lives nationwide are still impacted by the organisations, research facilities, and community initiatives that are now in place as a result of their funding. Their work shows that, when motivated by compassion and conviction, giving can be transformational, long-lasting, and strategic. The legacy Kay and Greg created together is still growing, guaranteeing that their contributions will be remembered by future generations even as Australia grieves for Kay’s departure.

Greg’s story serves as a reminder that the real test of success is not riches but rather the long-lasting effects that result from using achievement to improve the lives of others. His life is still a living example of the strength of purpose, and for many years to come, his impact will continue to affect Australian healthcare, research, and community assistance.

FAQs

Who was Kay Van Norton Poché?

Kay Van Norton Poché was an Australian philanthropist known for her major contributions to cancer research, melanoma treatment, Indigenous health, and youth palliative care. She worked closely with her husband, Greg Poché AO, to establish some of Australia’s most influential health and research centres.

What was Kay Van Norton Poché best known for?

She was best known for her life-changing donations to the Melanoma Institute Australia, her national support for Indigenous health centres, the Manly Adolescent and Young Adult Hospice, and her final $20 million gift to establish a world-leading cancer clinical trials hub.

When did Kay Van Norton Poché pass away?

Kay passed away on 14 June 2024 after a long illness, surrounded by her family. Her loss was felt deeply across Australia’s medical and research communities.

What impact did Kay Van Norton Poché have on cancer research?

Kay helped establish the Poché Centre for Melanoma Research and later contributed to a national cancer clinical trials hub in partnership with Memorial Sloan Kettering Cancer Center. Her contributions expanded access to innovative cancer treatments for Australians.

How did Kay Van Norton Poché support Indigenous health?

She and Greg founded the first Poché Centre for Indigenous Health at the University of Sydney and expanded this into a national network across multiple universities. Their work strengthened Indigenous health research, professional training and community-led healthcare solutions.

What was Kay’s role in youth palliative care?

Kay and Greg donated $6 million to help create the Manly Adolescent and Young Adult Hospice, Australia’s first dedicated facility for young people aged 15 to 24 with life-limiting illnesses.

What honours did Kay Van Norton Poché receive?

In 2019, she was appointed an Officer of the Order of Australia (AO) for her exceptional service to the community, particularly in health, Indigenous wellbeing and medical research.

What is Kay Van Norton Poché’s lasting legacy?

Kay’s legacy lives on through the medical centres, research programs and healthcare networks she helped build. Her generosity continues to improve cancer outcomes, advance Indigenous health and support vulnerable young people across Australia.

Sam Gance has become one of the most influential business figures in Australia, rising from a modest suburban pharmacy owner to one of the country’s most powerful retail leaders. His story spans more than five decades of uninterrupted growth, strategic decision-making and a relentless commitment to expansion within the pharmacy sector. What began with a single shop in Melbourne gradually evolved into Chemist Warehouse, a retail force with hundreds of stores across several countries and one of the most recognisable brands in the Australian marketplace. Alongside this rise, Gance has also built a significant presence in the property sector, participated in landmark corporate mergers and established a family legacy that now reaches into the next generation. His life represents a long career shaped by ambition, resilience and the ability to recognise opportunity long before others see it.

Early foundations and the beginning of a pharmacy career

Sam Gance stands today as one of Australia’s most influential retail figures, but his journey began far more modestly. In 1972, he and his brother Jack opened their first pharmacy in Melbourne. It was a typical suburban chemist, but it became the foundation for a long-term partnership that would eventually redefine the pharmacy landscape across the country. The early years were shaped by the values common to small family-run businesses: commitment to community needs, an understanding of customer behaviour, and a willingness to adapt as the retail environment shifted. This simple beginning marked the first stage of a career that would grow into one of the most significant retail stories in modern Australian history.

Expansion into a new retail model

The Gance brothers continued building their presence in the pharmacy industry through the following decades. Their business interests extended further when pharmacist and entrepreneur Mario Verrocchi founded a group of pharmacies during the 1990s. By 1995, Jack and Mario were operating five pharmacies under a growing banner, and these stores represented the earliest phase of what would become Chemist Warehouse. Sam later acquired a stake in the business as it adopted a new retail model focused on affordability, accessibility, and scale. The large-format discount approach, which became synonymous with the brand, allowed the group to expand rapidly while appealing to a broad consumer base that valued low prices and wide product ranges.

The rise of Chemist Warehouse across Australia and beyond

Chemist Warehouse eventually grew into one of the most recognisable retail brands in Australia. The company now generates about A$3.3 billion in annual revenue and operates more than 600 outlets across Australia, New Zealand, China, Dubai and Ireland. Its bright yellow signage, extensive catalogue promotions and high-volume discounting reshaped the way consumers purchase health, wellness, beauty and personal care products. The success of Chemist Warehouse has also had a substantial impact on the broader industry, prompting competitors to adjust their pricing structures, product offerings and store formats in an attempt to match the group’s reach and influence.

Strategic decisions and the landmark Sigma Healthcare merger

Chemist Warehouse’s considerable growth led many to speculate about a possible future on the Australian Stock Exchange. The company’s high public profile and large market share made an initial public offering seem like a natural step. However, the founders ultimately chose a different direction. After thorough consideration, the business abandoned its IPO plans and instead selected a major strategic merger with ASX-listed Sigma Healthcare. This merger was completed in February 2025 and became one of the most significant transactions in the pharmacy retail sector. It brought together two powerful industry players, enhancing supply chain efficiency, improving market reach and further consolidating the founders’ positions within a growing corporate structure.

A global billionaire with a strong Australian presence

By 2025, Sam Gance had become one of the world’s wealthiest individuals. His net worth reached approximately US$3 billion, ranking him around #1318 on the global index of the richest people as of November 2025. These achievements place him among the top Australian business figures of his generation. His wealth is derived from the pharmacy sector and reflects decades of disciplined enterprise rather than inheritance. At seventy-six years old, he continues to reside in Melbourne, maintaining close ties to the city where his business journey began more than five decades ago. His continued presence in the business world underscores the longevity of his entrepreneurial approach.

Growth into large-scale property investment

Although Chemist Warehouse remains the core of his business identity, Sam’s interests have expanded into substantial property investment. Alongside co-founder Mario Verrocchi, he serves as a director and financial supporter of National Retail Group, an enterprise created in 2019 with former Chemist Warehouse national asset manager Michael Spektor. National Retail Group oversees hundreds of properties spread across Australia and New Zealand, with a collective valuation under $2 billion. Gance and Verrocchi have outlined an ambitious plan to grow the portfolio to $5 billion within five years by acquiring additional commercial sites and making use of rising property values across major cities. This expansion reflects the founders’ strategy of leveraging long-established assets to build a broader investment platform.

High-profile Toorak property acquisitions within the family

The scale of the property moves associated with the Chemist Warehouse founders extends far beyond commercial holdings. In late 2025, Sam’s brother and fellow co-founder, Jack, purchased a 6340-square-metre property on Lansell Road in Toorak. This site, which combines two adjoining titles, has been listed among the most expensive residential transactions in Melbourne’s history. Although the final sale price has not been disclosed publicly, industry sources estimate a range between $80 million and potentially as high as $95 million. The land had been assembled over several years by developer Andy Zhang, who purchased the first home in 2015 for $17 million and the second in 2021 for $22 million. The high-end sale effectively doubled his investment and represents one of the city’s most significant property resales.

The Lansell Road acquisition is notable not only because of its size and price but also because it contributes to an existing pattern. Sam himself purchased a mansion on the same street for approximately $43 million in 2021, establishing the family’s presence in one of Melbourne’s most exclusive residential pockets. Jack and his wife Evelynne have also purchased neighbouring homes in previous years, including two adjacent mansions on Yar Orrong Road for more than $30 million between 2018 and 2019. These acquisitions mark the Gance family as long-term participants in the high-end residential market, particularly in Toorak, which consistently ranks as one of Australia’s most prestigious suburbs.

Parallel property movements by the Verrocchi family

The third Chemist Warehouse co-founder, Mario Verrocchi, has also been active in the premium property sector. Earlier in 2025, he purchased a mansion in Toorak for more than $20 million. In addition to this, the Verrocchi family has acquired six side-by-side properties for a combined sum of $22.83 million and secured a planning permit for a new home on the site. This move mirrors the strategy adopted by the Gance family of consolidating multiple neighbouring lots to create expansive residential compounds. Together, the purchase activities of the founders have helped shape the upper end of the Melbourne property market and contributed to rising demand for large parcels of land in premium locations.

Net worth

Sam Gance’s financial position reflects the scale of the empire he helped build. His net worth is listed at around US$3 billion, placing him among the highest-ranking business figures in Australia and securing a position within the global billionaire index. This wealth stems from a lifetime in the pharmacy sector, beginning with a single suburban chemist and culminating in the creation of Chemist Warehouse, a retail powerhouse with more than six hundred outlets across several countries. The completion of the merger with Sigma Healthcare in early 2025 strengthened his commercial influence and added further depth to his financial standing. His investments extend well beyond the retail sector, with major holdings in high-value Melbourne property and an expanding role in National Retail Group’s long-term growth strategy. Together, these elements form the foundation of his substantial personal fortune and highlight the enduring impact of his business decisions over more than five decades.

Sam Gance’s family wealth and the next generation

The reach of the Gance family into high-value property extends beyond Sam and Jack. In early 2025, Sam’s son Damien acquired a beachfront home in Byron Bay for $33.5 million in cash. The purchase took place only days before the landmark Chemist Warehouse merger with Sigma Healthcare and drew considerable attention due to both its value and timing. This transaction highlights the substantial intergenerational wealth now associated with the Gance family and reinforces their standing within Australia’s broader business elite. The combination of corporate success and property expansion has created a foundation that will continue influencing Australia’s commercial and residential landscapes for years to come.

Melbourne’s luxury real estate landscape

The repeated involvement of the Chemist Warehouse founders in large-scale property purchases has contributed to a dynamic period within Melbourne’s luxury housing market. Toorak has long held a reputation as the suburb of choice for business magnates, industry leaders and international investors. High-profile transactions such as the $80 million-plus Lansell Road property and the record-breaking sale of the Coonac estate for more than $100 million demonstrate the strength of demand for large landholdings in prestigious locations. Agents note that buyers view Melbourne as a safe and globally desirable destination for long-term residential investment.

At the same time, some have pointed to concerns arising from government policies involving land taxes and property regulation. These measures have influenced the behaviour of certain buyers, particularly those considering homes that require renovation or redevelopment. Nevertheless, the consistent involvement of high-net-worth individuals suggests that top-tier properties continue to draw considerable interest. The calibre of inquiry received for landmark properties supports the view that Melbourne’s premium real estate sector maintains broad international appeal.

The legacy of a decades-long partnership

The continued growth and influence of the Gance family within both the pharmacy and property sectors underscore the longevity of the partnership between Sam, Jack and Mario. What began as a single suburban pharmacy grew steadily and then exponentially through a combination of clear strategy, innovative retail practices and decisive expansion. The transformation of Chemist Warehouse into a global retail brand has had a lasting impact on consumer habits and industry standards. The founders’ ability to adapt to changing markets, embrace large-format retailing and build a distinctive discount model allowed the business to disrupt traditional practices and establish a competitive advantage that persists to this day.

The Sigma Healthcare merger represents a major milestone in this journey, marking a new stage in the evolution of the company. Through this union, the founders have not only strengthened the business’s operational foundation but also positioned it for further global expansion. Their subsequent investment strategies in commercial and residential property reflect the next chapter in their long-standing pursuit of growth, stability and diversification.

A life shaped by entrepreneurship and long-term vision

At seventy-six, Sam Gance continues to embody the values that have defined his career: persistence, strategic thinking and an ability to recognise opportunities across multiple industries. From the first pharmacy in Reservoir in 1972 to a multibillion-dollar retail network and an expanding property portfolio, his story demonstrates the potential of long-form entrepreneurship in the Australian context. His achievements illustrate how sustained commitment, strong partnerships and timely decision-making can reshape entire industries and create lasting economic influence.

Gance’s influence is visible not only in the scale of Chemist Warehouse but also in the evolving landscape of property investment among Australia’s wealthy families. His business activities remain anchored in Melbourne, the city where his professional journey began, and continue to play a defining role in its commercial and residential markets. His legacy spans retail, healthcare, corporate strategy and real estate, contributing to both the economic and cultural fabric of contemporary Australia.

Conclusion

Sam Gance’s story is one of steady determination, long-term vision and an unwavering commitment to growth across every stage of his career. What began with a single pharmacy in Melbourne in 1972 evolved into one of the largest retail forces in the country, with Chemist Warehouse now spanning hundreds of stores across Australia and overseas. His role in guiding the business through decades of expansion, as well as the landmark merger with Sigma Healthcare, demonstrates a talent for navigating both retail trends and major corporate shifts. Beyond the pharmacy sector, Gance’s involvement in large-scale property acquisitions and his position within National Retail Group show how his influence has continued to broaden into new arenas. His family’s continued presence in significant real estate moves, including major Toorak and Byron Bay purchases, highlights the generational impact of the enterprise he helped build. At seventy-six, his commercial footprint reaches across retail, corporate strategy and premium property, and stands as a reminder of how enduring success can grow from modest beginnings. The legacy he has created through Chemist Warehouse and his wider investments will continue shaping Australia’s business landscape for many years to come.

FAQs

Who is Sam Gance?

Sam Gance is an Australian businessman best known as a co-founder of Chemist Warehouse, one of the country’s largest and most influential pharmacy retail groups. His career began with a single pharmacy opened with his brother Jack in 1972, eventually expanding into a multibillion-dollar retail empire.

What is Sam Gance’s net worth?

Sam Gance’s net worth is estimated at around US$3 billion, placing him among the wealthiest individuals in Australia and ranking him within the global billionaire index.

How did Sam Gance build his fortune?

His wealth comes from decades in the pharmacy sector, beginning with the first family-run pharmacy and expanding through Chemist Warehouse, followed by strategic corporate moves such as the merger with Sigma Healthcare and large-scale property investments.

How old is Sam Gance?

Sam Gance is seventy-six years old. His career spans more than fifty years in retail pharmacy and property investment.

What is Sam Gance’s role in Chemist Warehouse?

He is a co-founder and long-term leader within the company, contributing to the development of its large-format discount model and its expansion into hundreds of stores across Australia and overseas.

Where does Sam Gance live?

He resides in Melbourne and has been associated with several high-value properties in Toorak, including a significant mansion purchase on Lansell Road.

What other business ventures is Sam Gance involved in?

Beyond Chemist Warehouse, he is involved in National Retail Group, a property management business aiming to grow a portfolio worth up to $5 billion across Australia and New Zealand.

Does Sam Gance have children?

Yes, his family includes at least one son, Damien, who made headlines for purchasing a $33.5 million beachfront property in Byron Bay, reflecting the wider family’s involvement in large-scale property holdings.

The story of Crown Resorts in recent years has been a turbulent one, shaped by royal commissions, allegations of misconduct, substantial fines, intense political pressure and a damaged public reputation. Overseeing the company during such a defining period demands a leader with unusual composure, strategic depth and hands-on operational experience. That is precisely why the board of Crown and its owners at Blackstone moved to appoint David Tsai as Chief Executive Officer of Crown Resorts in October 2024. His rise to the top of one of Australia’s most complex hospitality and gaming organisations reflects not only his capabilities, but also a new chapter for Crown: one centred on responsibility, long-term value creation, and a renewed focus on tourism and guest experience.

Although the Australian public may only recently have become familiar with his name, Tsai has built a substantial international career. He brings nearly two decades of experience in integrated resorts across the United States and Australia, spanning corporate strategy, operational leadership, regulatory navigation, hospitality transformation and major capital redevelopment. His leadership marks a turning point not only for Crown but also for the broader direction of Australia’s casino and entertainment industry.

To understand the significance of Tsai’s appointment, it is essential to look at his academic foundations, his long tenure with MGM Resorts International, his pivotal role in Crown Perth’s remediation journey, and his vision for reshaping the Crown brand into a hospitality-led, world-class tourism platform.

A Rare Academic Profile: Stanford University as the Starting Point

Many CEOs in the global casino and entertainment sector climb through the operational ranks or arrive from hospitality backgrounds. Tsai stands out because his path began in academia. He completed three degrees at Stanford University, earning a Bachelor of Science in Industrial Engineering, a Master of Science in Management Science, and a Master of Business Administration. These fields blend mathematics, analytics, systems design, modelling, strategic decision-making and organisational leadership. They are exactly the sort of disciplines that prepare someone to oversee environments as complex as integrated resorts, where thousands of employees, millions of annual visitors, large volumes of sensitive data and significant capital investments collide.

Before entering the casino and hospitality industry, Tsai worked at McKinsey & Company, a global consulting powerhouse known for developing analytical, structured leaders. At McKinsey, professionals typically work across industries, advising on operational improvements, strategic positioning, organisational design and risk management. This early exposure to multi-sector problem solving became a defining thread in Tsai’s later work, especially when overseeing large reform programs and transformation projects that demand both vision and precision.

The MGM Years: From Strategy Leader to Multi-Property President

Tsai’s real grounding in integrated resort operations began when he joined MGM Resorts International, one of the largest entertainment, casino and hotel groups in the world. His career with MGM spanned more than fifteen years and moved steadily upward in responsibility and influence.

One of his most prominent roles at MGM was serving as Senior Vice President of Corporate Strategy & Analytics, a position responsible for setting strategic direction across more than fifteen MGM properties in the United States. This required a deep understanding of gaming performance, hotel operations, food and beverage profitability, entertainment programming, customer loyalty, marketing strategy and regulatory dynamics. It was here that Tsai honed the ability to analyse patterns across multiple properties, design long-term operational frameworks and oversee multi-billion-dollar decision making.

Tsai also served in key leadership roles at ARIA Resort & Casino, an architectural landmark and a flagship property on the Las Vegas Strip. This experience offered him direct exposure to modern luxury hospitality, large-scale event operations, high-end dining venues and the demands of operating in one of the world’s most competitive tourism markets.

A major milestone in his career came when he played an integral role in the US$550 million transformation of the Monte Carlo Resort & Casino into Park MGM and NoMad Las Vegas. This project was one of the most ambitious redevelopment efforts on the Strip in recent memory, completely reimagining an ageing hotel-casino into a contemporary, premium destination designed to attract new traveller demographics. It required collaboration between designers, brands, regulators, construction teams, hospitality experts and marketing strategists. Tsai’s involvement demonstrated his ability to manage complex transformation programs with substantial capital investment, stakeholder pressure and tight operational timelines.

Later, Tsai was appointed President of MGM’s Midwest Group, overseeing MGM Grand Detroit and MGM Northfield Park simultaneously. Detroit and Ohio are among the most heavily regulated gaming environments in the United States, with strict requirements around financial crime controls, responsible gambling, customer transparency and operational accountability. Running these properties sharpened Tsai’s ability to balance compliance with commercial performance, a skill that would later prove essential in Australia.

A Crucial Australian Chapter: Leading Crown Perth During Regulatory Overhaul

Tsai’s entry into Australia came in December 2022, when he formally commenced as CEO of Crown Perth. His appointment happened at a sensitive moment. The Western Australian casino royal commission had uncovered severe failures in risk management, customer due diligence, responsible gambling processes and internal culture. Crown Perth was working under heightened regulatory scrutiny, with remediation programs supervised by independent monitors.

On his first day, Tsai participated in a traditional smoking ceremony led by respected Noongar cultural leader Dr Richard Walley OAM, symbolising a renewed commitment to rebuilding trust with the community and recognising the cultural significance of the land on which the resort operates.

As CEO of Crown Perth, Tsai was responsible for stabilising operations while simultaneously implementing a vast series of reforms. These included tightening anti-money laundering controls, redesigning risk governance structures, uplifting staff training, embedding mandatory responsible gambling procedures, and resetting the internal culture so that compliance became part of everyday operations rather than a secondary obligation. Observers noted that Crown Perth made measurable progress under his leadership, which strengthened his credibility with both the Crown board and government regulators.

Elevation to Group Leadership and Acting CEO

By mid-2024, progress at Crown Perth and Tsai’s international experience positioned him as an ideal candidate for broader responsibilities. Crown announced that he would become Group President and Chief Operating Officer, overseeing resort operations nationally across Melbourne, Perth and Sydney. This required him to introduce consistent standards, refine guest experiences, improve internal frameworks and prepare the organisation for a more tourism-oriented future.

Soon after, Crown’s then-CEO stepped down, and Tsai was appointed interim Group CEO, placing him at the helm of the company during a critical transformational period. He oversaw remediation progress in Melbourne and Sydney, responded to shifting regulatory landscapes, managed operational restructuring and continued developing Crown’s long-term strategy under Blackstone ownership.

Permanent Appointment as CEO of Crown Resorts

On 31 October 2024, Crown Resorts announced that Tsai would become its permanent Chief Executive Officer, subject to regulatory approval. The appointment reflected a high level of confidence in his ability to guide the business into a new era defined by stricter regulation, heightened public expectations and the need for recalibrated business models.

Crown’s senior leadership profile describes Tsai as an executive with nearly two decades of experience in integrated resorts and a demonstrated capacity to handle large-scale operational, cultural and strategic challenges. His responsibilities now extend across Crown Melbourne, Crown Perth and Crown Sydney, making him one of the most influential figures in Australia’s hospitality and entertainment industry.

A New Strategic Direction: Tourism, Hospitality and Cultural Renewal

One of Tsai’s clearest messages since becoming CEO is that Crown must evolve beyond its traditional identity as a casino operator. He argues that the future of Crown lies in positioning its precincts as full-service integrated resorts that compete globally for tourists, talent and partnerships.

Under his leadership, Crown has begun reallocating capital toward modernising its Australian properties. The sale of Crown London Aspinalls allowed the company to reinvest more effectively in its domestic portfolio, enhancing dining offerings, hospitality experiences, entertainment line-ups and the overall prestige of the Crown brand.

In Melbourne, the goal is to revitalise one of Australia’s largest hospitality precincts, ensuring it remains a key driver of tourism and cultural activity. In Sydney, the focus has been strengthening premium accommodation and dining experiences. In Perth, Tsai continues to drive the cultural and operational transformation initiated during his initial appointment.

Across all sites, the future Crown Tsai envisions is one defined by luxury standards, seamless guest experiences, a diverse array of attractions and an unwavering commitment to responsible operations.

Compliance and Responsibility as a Cornerstone

A defining feature of Tsai’s leadership is the emphasis on restoring and maintaining public trust. The Crown’s reputation was substantially damaged by findings of misconduct uncovered in the royal commissions. Tsai’s background in highly regulated US jurisdictions has equipped him to understand the importance of compliance not as a box-ticking exercise, but as a cultural imperative.

He has supported the introduction of mandatory carded play, pre-commitment systems, enhanced monitoring of gambling behaviour and stronger customer identification processes. He has also advocated for consistency in gambling regulations across casinos, pubs and clubs. His position reflects the belief that isolated reforms in one section of the industry do not adequately protect vulnerable individuals if less-regulated venues provide easier access to risky behaviour.

Crown Sydney has since retained its licence, Crown Perth continues to advance toward regulatory benchmarks, and Crown Melbourne is progressing through an extensive reform process. Tsai’s role in these outcomes reinforces his position as a credible, strategy-driven leader capable of leading cultural and compliance renewal.

Leadership Style and Public Image

Unlike some past Crown executives, Tsai maintains a relatively private public persona. He does not promote his personal or family life and rarely reveals details unrelated to his professional responsibilities. Instead, he is known for being methodical, composed and highly analytical. His communication style is measured, thoughtful and focused on the long-term stability of Crown rather than short-term publicity.

Industry observers consistently describe him as a leader who values operational clarity, safe customer experiences, transparent governance and the consistent delivery of high-quality hospitality. His credibility appears to stem from experience rather than personality-driven influence, creating a leadership presence that is steadier and more deliberate than some of his predecessors.

Looking Forward: The Tsai Era at Crown Resorts

David Tsai’s leadership arrives at a moment when the Crown stands at a crossroads. The company must rebuild trust, refine its operations, modernise its precincts and reposition itself in the global tourism landscape. Tsai’s background at MGM, his academic training and his experience managing regulatory reform uniquely position him to lead Crown into this new era.

His long-term success will depend on whether Crown can genuinely embed safe and responsible gambling into its culture, attract new visitor demographics, continue upgrading its hospitality offerings and maintain strong relationships with regulators and communities.

While much about Tsai’s personal life remains private, his professional legacy in Australia is only just beginning. He is shaping the future of three major entertainment precincts, influencing the direction of national tourism, and steering one of Australia’s most scrutinised companies toward stability and renewed ambition.

Under his guidance, Crown’s future appears more disciplined, more strategically aligned, and more firmly grounded in responsibility than at any point in recent memory. The next decade will reveal how far this transformation can go, but the foundations are already being laid through Tsai’s steady, visionary leadership.

Conclusion

More than just a standard leadership transition, David Tsai’s hiring as CEO of Crown Resorts signals the start of a major strategic and cultural overhaul for one of Australia’s most renowned hospitality businesses. His path from a Stanford-trained strategist to a top MGM executive and ultimately the head of Crown demonstrates a career based on operational discipline, analytical prowess, and a thorough comprehension of how integrated resorts operate in complex regulatory contexts.

Tsai takes up the position at a time when Crown has to show that it is really changing—not only in terms of compliance, but also in terms of how it sees its role in Australia’s tourist industry. Under his direction, there will be a greater focus on safer gaming methods, long-term sustainability, improved visitor experiences, and a change towards hospitality-first thinking. His experience also demonstrates that he is aware of the business realities of managing major resorts while striking a balance between stakeholder demands and regulatory requirements.

Tsai’s professional impact is now intimately linked to the future of Crown Melbourne, Crown Perth, and Crown Sydney, even if a large portion of his personal life and financial facts are still confidential. His choices will affect how Australians and tourists from other countries see these districts, as well as whether Crown can regain its reputation as a top destination for entertainment and travel.

Tsai’s calm, methodical, and visionary leadership provides a clear sense of direction as Crown moves through this time of change. The full effects of his vision will become apparent in the coming years, but preliminary indications point to Crown embarking on a more ambitious, responsible, and disciplined age under his direction, one that places a renewed emphasis on honesty, creativity, and first-rate hospitality.

FAQs

Who is David Tsai CEO?

David Tsai is the Chief Executive Officer of Crown Resorts, Australia’s largest integrated resort group. He took on the role in October 2024 after serving as CEO of Crown Perth from December 2022. He brings nearly two decades of experience in integrated resort strategy and operations, including senior roles at MGM Resorts International in the United States, where he oversaw corporate strategy, analytics, major property transformations and resort groups.

Where is David Tsai from?

David Tsai is originally from the United States. He studied and built much of his career there before relocating to Australia to lead Crown’s operations.

What is David Tsai known for?

David Tsai is known for his leadership in integrated resort operations, his strategic roles at MGM Resorts International, and his recent work guiding Crown Resorts through regulatory reform and business transformation in Australia.

Who is the CEO of Crown Perth?

As of October 2024, the CEO of Crown Perth is David Tsai, who held that position from December 2022 before becoming CEO of Crown Resorts overall.

Is Lauren Tsai half Chinese?

Yes. Lauren Tsai is of mixed heritage, with her father of Chinese descent and her mother of European descent. She is widely described in the media as Chinese-American.

What ethnicity is Tsai?

The surname Tsai is common among people of Chinese heritage. Ethnicity depends on the individual person, but in the case of Lauren Tsai, her background is part Chinese and part European-American.

For David Tsai, public sources confirm he is an American executive, but they do not specify his detailed ethnic background.

Is Mad Tsai LGBTQ?

There is no public, verified information available about anyone named Mad Tsai being LGBTQ. This appears to be either a private individual or unclear query. Without reliable sources, it’s not possible to confirm.

How much of the nets does Tsai own?

If you’re asking how much net worth David Tsai or Lauren Tsai has or what ownership they hold in a company (“nets” might mean net worth or holdings), there is no verified public figure for David Tsai’s personal net worth, salary, or equity. Executives at his level are typically well-paid, but precise figures are not publicly disclosed for him under private ownership of Crown Resorts.

Similarly, there’s no public information on how much ownership Lauren Tsai holds in any major company.