Leighton Holdings Ltd. (LGTHF.PK, LEI.AX), the Australian unit of Germany's Hochtief (HOCFF.PK), said Bob Humphris OAM has been elected chairman of the company. Paula Dwyer has been appointed Deputy Chairman. The stock is up nearly 5 percent on the ASX.
Humphris is Chairman of mining services company Ampcontrol Pty Limited. He is a director of the ASX listed-Australian Infrastructure Fund Limited.
He has 50 years of global construction and mining experience, including 10 years as Managing Director of Peabody Resources Pty Limited. Humphris spent 23 years in executive positions with a major UK based constructor.
Humphris, 70, is a member of the advisory boards of two Leighton companies. He also chairs Leighton's Tender Review and Risk Committee, a key component of the company's business transformation strategy. He has been an Independent Non-Executive Director of Leighton since September 2004.
Humphris also noted that the company's major shareholder Hochtief has once again confirmed the current governance arrangements relating to Leighton's independence.
Hochtief had said in a letter dated March 23 that it is committed to Leighton's strategic objectives and totally supports the chief executive and his management team.
Humphris said, "Leighton is in a strong position with real momentum. The Board, the major shareholder and management are all firmly committed to Leighton and are absolutely focused on
managing the business in the best interests of all stakeholders."
LEI.AX is currently up 4.9 percent at A$21.19.
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