Gary Weiss during the 1980s, as a corporate lawyer from New Zealand, purchased 20% of Woolworths, within two days, while he worked with team at Ron Brierley's corporate raider, Industrial Equity Limited. Weiss, 56, recalls and terms the days as "some of the happiest days of his life".

Towards the end of 1980s, IEL came up as the third-largest Company, according to Australian Stock Exchange. Weiss will be holding the post of the Chief Executive of the GPG Australia, demerged Company.

It was announced that the Australian operations of Brierley's British-based Guinness Peat Group (GPG) will operate under the leadership of Weiss. With this step, the much-longed passing of the corporate baton was reflected.

Ron Brierley, 72, had been the mentor, tutor, friend and confidant of Weiss. He is stepping off the role of in the Australian business, while he will be sticking to the post of Director. It is not yet known who will be the Chairman, before the Brierley's final withdrawal from British-listed GPG group.

Both, Weiss and Brierley have been recognized in the market as a very dynamic pair.

Talking about the relationship between the two, Weiss said that it is "an enduring symbiotic relationship".

The announcement took place at the GPG Australia offices in Sydney, yesterday, dressed in his typical style with black shorts and tennis shoes and a grey jumper.