In this episode, James sits down with Bruce Carter AO, one of Australia’s most respected commercial advisors and arguably South Australia’s “Mr Fix-It”. Over more than three decades, Bruce has become the person governments, boards and business leaders call when the stakes are high and commercial pragmatism is in demand.

Bruce built his career in corporate restructuring and insolvency as a young partner at EY before founding Ferrier Hodgson’s Adelaide office. From there he became pivotal in some of South Australia’s biggest corporate challenges — Harris Scarfe’s collapse, the Elders refinancing, and government advisory roles on the Port Pirie smelter, Whyalla steelworks, the Olympic Dam expansion, and more. In 2021 he was appointed to the Board of Crown Resorts as it faced an existential reputational crisis and three Government Royal Commissions.

In this wide-ranging and deeply personal conversation, Bruce talks through:

• His early life, influences and pathway to becoming a restructuring and insolvency professional
• Two decades as an Australian Rules football umpire — and how quick decisions under pressure shaped his business instincts
• The collapse of Harris Scarfe — including the discovery of two sets of books, unreliable records, and the race to rebuild the business
• Elders’ turbulent GFC period — eight banks, competing agendas, and a 2.5-year workout that pushed the business to the edge
• His mid-career pivot and personal tragedy — the sudden loss of his wife Briony, and how it changed his life and direction
• Whyalla’s collapse, the economic shockwaves, and the complexity of saving a regional community’s largest employer
• Crown Resorts in 2021 — what it was like inside Australia’s most scrutinised boardroom during three simultaneous Royal Commissions and 110 board meetings in a single year
• His principles for dealing with extreme complexity and stakeholder chaos
• How he approaches modern governance — integrity, transparency, humility, and never losing touch with the real business

Bruce’s reflections are candid, thoughtful and packed with lessons for leaders, directors and anyone navigating high-pressure decisions.

This is a rare window into the mindset of someone who has helped steer companies, governments and communities through their most pivotal moments.

The views expressed in this episode are personal opinions only and do not represent the views of any organisation, board, government body or company with which Bruce Carter AO or James H. Stewart is or has been associated. Nothing in this episode constitutes financial, legal or professional advice. Listeners should seek their own independent advice before making any decisions based on the topics discussed.

Contact James

Website: jameshstewart.com

Linked in: https://www.linkedin.com/in/james-h-stewart-gaicd-83b46a9/

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