Forbes Asia released its annual list of the 200 Best publicly-traded companies with annual revenue under a Billion. Of 18 Australian companies on the list, just one is led by a woman. Meet the CEO at the helm of an innovative Melbourne-headquartered education firm.
The four largest Australian companies by market cap on Forbes Asia’s 200 Best Under a Billion list are Richard White’s Wisetech Global ($21.2 billion), Pro Medicus ($8.4 billion), Netwealth Group ($3.4 billion), and IDP Education ($2.9 billion).
Two things stand out when it comes to IDP. It has the highest annual revenue – just squeaking into the list at $982 million for financial year 2023 – compared to the other three in the Top 4. And it is the only company out of all 18 Australian organisations that is led by a woman.
Tennealle O’Shannessy is the CEO of Melbourne-headquartered IDP, overseeing more than 4,000 employees across the globe. The company says it specialises in helping people get accepted all over the world get accepted into their ideal course.
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The company co-owns the International English Language Testing System (IELTS) with the British Council and Cambridge University Press and Assessment. IELTS is the benchmark test used by academic and governmental institutions to assess English language proficiency.
“Our English Language Testing business, IELTS, is the world’s most recognised, reliable and secure English language test, using both expert human examiners and digital technology for the best customer experience,” says O’Shannessy.
IDP disclosed in its financial year 2023 earnings report that the number of IELTS tests taken across the globe was at an all-time high. The company operates in more than 57 countries and says the websites draw more than 100 million visits annually.
“This year, we helped more students and test takers than ever before as our customers realised their global ambitions for study, career and migration,” O’Shannessy said in 2023.
The volume of tests, coupled with a price hike of 6% for each test, resulted in record revenue for the company last year.
From Seek, to Adore Beauty, to IDP
Prior to leading IDP, O’Shannessy was CEO of publicly-traded Adore Beauty specialising in online retail of beauty products. Before that, she spent a decade at ASX-listed Seek, culminating in the role of managing director of the Americas from 2018 – 2020.
O’Shannessy joined IDP in 2023 just before the company released the results of a global survey investigating student preferences. Australia was found to be the number one study preference for Southeast Asian countries, including Vietnam, Indonesia, Cambodia, and Thailand.
Globally however, students say Canada is the country they would most like to study in. Australia is second, the US third, and the UK rounds out the top 4.
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