Retiring Orica chairman Malcolm Broomhead offered his thoughts to investors at the explosives manufacturer's annual general meeting in Sydney following the mass shooting at a Hanukkah celebration at Bondi Beach on Sunday.
"It's just so unusual for our country, and I just urge our government to demonstrate leadership and put an end to such behaviour," Mr Broomhead said.
"If this is not contained, we run the risk of other communities suffering racial hatred and, in fact, we already see that.
"This is something which really affects the very fabric of our country."
Mr Broomhead, who grew up in Papua New Guinea, said Australia was blessed with abundant natural resources, a highly educated population, a history of internal peace and had the potential to become the "next leading democracy on the world stage".
"Yet, from time to time, it seems as though Australians undermine our own success, and I wonder if we feel undeserving of our achievement," he said.
"A recent example is the senseless attack in Bondi on the weekend, demonstrating the erosion of our multicultural harmony through outbreaks of racism, anti-Semitism and violence."
Some 15 people, including a 10-year-old girl, were killed and dozens more injured by an armed father and his son in the terrorism attack.
Mr Broomhead also touched on energy policy in his outgoing reflections, saying that despite having some of the world's largest energy reserves, Australians faced some of the highest power costs, which were damaging the manufacturing sector and raising the cost of living.
"Some of the decisions our leaders are making are perplexing," he said.
Orica is a significant consumer of gas to make its explosives products.
Incoming chairman Vik Bansal said the company would encourage the NSW and Queensland governments to follow Western Australia's domestic gas reservation policy.
"Having said that, I also understand the constraints of the gas industry, because they are committed to long-term contracts with their customers, and these are sovereign contracts with important trading partners like Japan, Korea, China and Southeast Asia," he said.
Mr Broomhead, who became Orica CEO 24 years ago and chairman in 2016, leaves the business in a good position, having delivered its highest earnings in 13 years
Orica said demand for its blasting technology, specialty mining chemicals and digital solutions remained strong, and it was continuing to evaluate a potential hydrogen supply chain hub in Newcastle, NSW.
Orica shares were up 1.8 per cent to $24.115 mid-afternoon on Tuesday.
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