Founder, sage and oracle dies aged 99
The South Yarra home of Geoff Donaldson has been one of the first ports of call for newly installed Woodside executives in recent decades, in a kind of tribute to the man considered to be the founding father of the oil and gas giant.
A foundation investor and chairman of the company for 28 of its first 30 years, Mr Donaldson died in recent days at the age of 99.
His reputation at the company was unrivalled, he being largely credited with shifting the company's focus from the eponymous small town in eastern Victoria to the highly prospective waters of north-western Australia.
It was there that Woodside played a part in the massive North-West Shelf oil and gas project, which helped turn the company from a minnow into a $56 billion giant at its peak in 2008.
Its value is only half that today, but Woodside remains the 12th biggest company on the ASX by market capitalisation.
Current Woodside chief executive Peter Coleman visited Mr Donaldson recently, and said he remained very engaged in the company's affairs.
"Even at the age of 99, Geoff continued to follow Woodside closely. He would be full of questions about our activities and full of advice," he said.
While 99 is a good innings in anyone's language, Mr Donaldson's comments in a 2010 interview suggest that at least one of his wishes remained intact to his dying day.
"I wouldn't want to see Woodside taken over by anyone," he told Fairfax Media, in reference to Royal Dutch Shell's failed attempt to acquire the company.
"I want it to remain as Woodside."
Frequently Asked Questions about this Article…
Geoff Donaldson was a foundation investor and the long-time chairman of Woodside Petroleum, serving as chairman for 28 of the company's first 30 years. He's widely regarded as the founding father of Woodside for shifting the company's strategy and helping build it into a major oil and gas player. His recent death at age 99 is notable for investors because his leadership and ongoing interest in the business shaped Woodside's direction for decades.
Donaldson is largely credited with shifting Woodside's focus from the small Victorian town that gave the company its name to the highly prospective waters of north‑western Australia. That strategic move helped position Woodside to participate in large projects and grow from a small company into a major oil and gas producer.
The article says Woodside played a part in the massive North‑West Shelf oil and gas project, which helped transform the company from a minnow into a $56 billion giant at its 2008 peak. That project was a key driver of Woodside's historical growth and investor appeal.
Woodside reached about $56 billion in market value at its 2008 peak. According to the article, its value today is roughly half of that peak, though it still remains one of the largest companies on the ASX.
The article states Woodside remains the 12th biggest company on the Australian Securities Exchange (ASX) by market capitalisation.
Yes — the article refers to a failed attempt by Royal Dutch Shell to acquire Woodside. Geoff Donaldson told Fairfax Media in 2010 that he didn't want to see Woodside taken over and wanted it to remain as Woodside.
Peter Coleman visited Geoff Donaldson recently and said Donaldson remained very engaged with the company's affairs. Coleman noted that even at age 99 Donaldson would be full of questions about Woodside's activities and full of advice.
Based on the article, key takeaways include: Donaldson played a decisive historical role in shaping Woodside's strategy (notably the North‑West Shelf participation); his leadership helped drive Woodside to a $56 billion peak in 2008; the company is now about half that peak value but still ranks among the top ASX companies; and Donaldson strongly valued Woodside's independence. These facts are useful context for investors tracking the company's history and long‑term identity.
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