- Australian shipbuilder Austal (ASB) has promoted Patrick Gregg as CEO, effective from January 1 2021
- Patrick, who is the company’s current Chief Operating Officer (COO), will take over from current CEO and Managing Director David Singleton
- David will continue to work closely with Patrick over the next six months to ensure an efficient and seamless transition
- Patrick was appointed as COO three-and-a-half years ago and according to Chairman John Rothwell, he was considered a natural successor to CEO from the get-go
- Austal ended the day down a slight 1.42 per cent and shares are trading for $3.48 each
Australian shipbuilder Austal (ASB) has promoted Patrick Gregg as CEO, effective from January 1 2021.
Patrick, who is the company’s current Chief Operating Officer (COO), will take over from current CEO and Managing Director David Singleton.
When Patrick takes the helm, David would have completed nine years as a Director, including five years as CEO.
He will continue to work closely with Patrick over the next six months to ensure an efficient and seamless transition.
“Austal is an incredible company producing excellent defence and commercial vessels and support services, delivering strong return for shareholders,” David said.
“After an extended period with the company, the time is now right to hand over to Paddy and explore new challenges,” he added.
Patrick was appointed as COO three-and-a-half years ago and according to Chairman John Rothwell, there was a view to him being a natural successor to CEO.
Since Patrick was appointed, Austal has set up operations in Vietnam, expanded operations in the Philippines, and won a new Cape class contract with the Australian Government.
“Our shipyards in Australia, the Philippines, Vietnam and China are working incredibly efficiently while producing quality defence and commercial vessels,” John commented.
“That is a reflection of Paddy’s drive, commitment and ability to engender similar characteristics from his employees. Those skills and personal qualities made him an ideal choice to take over from David at the end of the year,” he added.
Austal ended the day down a slight 1.42 per cent and shares are trading for $3.48 each.