Not so tired now, PM? Mark McGowan takes on his FIFTH new job since leaving politics – after saying he was too exhausted to continue
Former Western Australian Premier Mark McGowan has started his fifth job, a year after he abruptly quit politics due to exhaustion.
His latest performance has already earned him stock options with a potential profit of almost $500,000. Profits have increased by 10 percent in the past 24 hours.
Mr McGowan was the state’s leader for six years, but became known nationally during the Covid pandemic for his strict border closures, cutting off the West from the rest of the country.
Last May, he announced his departure from his top position in a visibly emotional manner: ‘Today I announce that I will be stepping down as Prime Minister and Member for Rockingham.
‘I’m tired, extremely tired. In fact, I’m exhausted… this [job] is all-consuming. Combined with the Covid years it has left me exhausted.
“I just don’t have the energy or the motivation to continue as prime minister, or to run in elections.”
In October he had four jobs: one as a senior adviser at former federal finance minister Joe Hockey’s advisory firm Bondi Partners and one as a strategic adviser at Mineral Resources.
The weary former police officer also went to work for BHP as a consultant and served on an advisory committee for APM Human Services International, an employer for people with disabilities.
On Monday, Frontier Energy CEO Adam Kiley announced that McGowan had been named the company’s new non-executive chairman, reportedly receiving two million stock options.
Mark McGowan (pictured with his wife Sarah) has had five jobs since leaving politics due to exhaustion
Mark McGowan is pictured speaking to the media on his last day in office, June 2, 2023
The first million options are exercisable for $0.20, the remaining 500,000 options are exercisable for $0.25, and the remaining 500,000 options are exercisable for $0.40. All expire in December 2027.
FHE shares were worth about $0.40 in early August. Since Mr. McGowan’s appointment was announced, they have risen to $0.51, giving him a potential profit of $495,000.
On Tuesday, he told mining.com.au he was excited about the company’s Waroona Project, which is located about 120 kilometres outside Perth and bills itself as one of the country’s largest renewable energy schemes.
“Frontier’s Waroona project stands out as a significant asset to Western Australia’s transition, at a time when energy security is paramount and the state continues to see record new applications,” he told the website.
“This is the first step in our strategy to become a large-scale producer of renewable energy.”
He starts on September 2nd.
Mark McGowan appeared emotional as he announced he would leave politics in 2023 (pictured)
Earlier this year, the McGowan clan sold their Rockingham home for $1.6 million (pictured)
The appointment is the latest milestone in what has already been a significant year for the McGowan clan.
In January, the former prime minister and his wife Sarah sold their sprawling Rockingham home for $1.6 million, before buying a new six-bedroom house in Fremantle for $3 million.
In 2002, they purchased the Rockingham property for $527,000, demolished the existing house and built a two-story, four-bedroom home with coastal views.
In June, he was one of six people appointed Companions of the Order of Australia to commemorate the King’s birthday in 2024.
“My deepest gratitude goes out to the people of Western Australia who have been so kind to me,” he said at the time.
‘Thank you to my former colleagues, employees and the Labour Party.
‘I have been fortunate to have their support during my time as Prime Minister and throughout my parliamentary career. Without that support I would have achieved nothing.’
