- Downer’s (DOW) Chief Operating Officer, Peter Tompkins, is being promoted to CEO and Managing Director following the announcement of Grant Fenn’s retirement
- Mr Tompkins joined Downer in 2008 and has more than 20 years of experience in management, operational, commercial and legal roles
- He takes over from Mr Fenn, who is due to retire in February 2023 after 12 and a half years in the top job
- Mr Fenn will remain with the company through the 2023 calendar year to assist with the transition
- Downer shares are down 1.93 per cent to $5.07 at 11:30 am AEDT
Downer’s (DOW) Chief Operating Officer, Peter Tompkins, is being promoted to CEO and Managing Director following the announcement of Grant Fenn’s retirement.
Mr Tompkins joined Downer in 2008 and has more than 20 years of experience in management, operational, commercial and legal roles.
In 2011, he took up the role of Group General Counsel, then in 2017, Downer acquired Spotless, of which Mr Tompkins became the CEO and MD a year later.
Last year, Mr Tompkins was appointed COO of the group.
Now, in the top job, he said his focus will be on “improving project performance, profit margins and extracting value for shareholders”.
Mr Tompkins’ annual salary is set at $1.55 million plus short- and long-term incentives.
He takes over from Mr Fenn, who is due to retire in February 2023 after 12 and a half years in the top job.
Downer Chairman Mark Chellew thanked the outgoing CEO for his “significant contribution” to the company.
“Grant has been the driving force in reshaping this business. He has provided strong leadership during often difficult times,” Mr Chellew said.
“His commitment to our customers, our people and our shareholders has been unwavering. We wish Grant the very best for his future endeavours.”
Mr Fenn will remain with the company through the 2023 calendar year to assist with the transition.
Downer shares were down 1.93 per cent to $5.07 at 11:30 am AEDT.