- Austin Engineering (ANG) agrees to bring forward its handover date for the company’s leadership transition
- As a result of this, Peter Forsyth’s resignation from the role of CEO and Managing Director will be effective from today
- Current Non-Executive Director, David Singleton will act as interim CEO following Mr Forsyth’s retirement, and will receive a daily rate of $4000 on top of his ongoing remuneration
- The company’s strategic review to find significant growth opportunities is still underway, while the board continues to consider the best fit for the CEO role
- Austin Engineering was trading flat at 13.5 cents at 12:30 pm AEST
Austin Engineering (ANG) has agreed to bring forwards its handover date for the company’s leadership transition.
As a result of this, Peter Forsyth’s resignation from the role of CEO and Managing Director will be effective from today.
“Peter has made an outstanding contribution to Austin, providing great leadership through what has been a challenging period for the company and he leaves the company well positioned for growth going forward,” Austin Chairman Jim Walker said.
The announcement follows Austin Engineering’s relocation from Brisbane to Perth, which places the company’s senior executives closer to a number of major customers who are WA-based, while also delivering cost savings.
The company’s strategic review to find significant organic and inorganic growth opportunities is still underway, while the board will continue to consider the best fit for the CEO role.
Current Non-Executive Director, David Singleton will act as interim CEO follow Mr Forsyth’s retirement. In addition to his standard ongoing remuneration as a Director, Mr Singleton will receive a daily rate of $4000.
Austin Engineering was trading flat at 13.5 cents at 12:30 pm AEST.