New Gordon TAFE boss announced Markets plunge as recession looms
JOE Ormeno has been named the new chief executive of the Gordon TAFE.
Mr Ormeno, pictured, has been acting CEO since the departure of former boss Lisa Line in June.
Ms Line left to take up a role as deputy vice-chancellor for Pathways and Vocational Education (PAVE) at Swinburne years, having joined in early 2009 as the chief finance officer.
Mr Ormeno was then promoted to chief operating officer in 2014.
Before joining The Gordon, Mr Ormeno had held various executive roles in corporate services within the private and not-for-profit sectors. THE Australian share market dived for a second straight day yesterday, losing $49 billion in value amid a rout of global equities.
The benchmark S&P/ ASX200 index dropped 146.9 points, or 2.21 per cent, to 6493 points, while the broader All Ordinaries was down 141.6 points, or 2.1 per cent, to 6611.7 points. Markets around the world plunged after the US announced new import tariffs on products from Europe, and private payroll figures showed hiring in the US had declined in September.
“It’s maybe a realisation of the risks we’ve been looking at for the last few months,” said X-Chainge founder Nick Twidale, who has been predicting a crash for several months.
Despite this week’s losses, so far the ASX is still up 15 per cent for the year, having gained nearly $300 billion in value. But every sector was down at least 1 per cent on yesterday, with losses exceeding 2 per cent in seven of the 11 sectors.