Judge to return?

Press, 1 April 1989, Page 30

Judge to return?

NZPA-AAP Brisbane Mr Bruce Judge, the man who turned a bankrupt quarry company into an industrial giant which then crumpled to become the nation’s largest corporate loser, would like to make a comeback.

But, adds the man who played hockey for New Zealand but is best known as the former chairman of Ariadne Australia, he wants to first take a break from the hustle and bustle of corporate life. Mr Judge is now a nonexecutive director of Ampersand International, which has set its sights on winning control of Ariadne, although this may not be Mr Judge’s ultimate aim.

The first hurdle will be wresting control of a 19.67 per cent stake in Ariadne. The shares are currently held by FAI Insurances under mortage to Ampersand’s 90% subsidiary Magenta.

The point in dispute is whether a subsequent agreement for Magenta to on-sell the shares to Essington is still

current. Mr Judge attended the extraordinary meeting of Ariadne shareholders on Thursday that approved Essingtons purchase of the shares. All that aside, Mr Judge believes Ariadne is destined to make a major corporate

comeback from its historic S64OM loss for the last financial year. And when — not if — that happens, Mr Judge will be happy and is prepared to walk because "the people who followed Mr Bruce Judge into Ariadne” will be secure again.

Asked by reporters if he was looking for a role in Ariadne, Mr Judge said he was not interested in a full time job with any company at present.

“Once Ariadne is back up and running I will take a break I think,” he said. Would be start “another Ariadne” style company after that break?

“Not immediately. I’d like to have a break first.

“But I haven't really though about it.” However, Mr Judge said he had considered how such a company would operate. “I certainly wouldn’t have a wholly executive board — if you have trouble with executives you can’t fire them.” “The other lesson was that Ariadne grew too fast.”