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Leighton Holdings Ltd Announces Board Changes

Thursday, 21 Mar 2013 07:03pm EDT 

Leighton Holdings Ltd announced that Mr Stephen Johns and two Non-executive Directors, Mr Wayne Osborn and Mr Ian Macfarlane AC, have tendered their resignation from the Board. They have resigned following what they perceive to be a breakdown in relations with the major shareholder Hochtief and their view that Hochtief no longer supports an independent Board at Leighton. Under the current governance arrangements between Hochtief and Leighton, Leighton operates under an independent board and management. Leighton believes these governance arrangements, which have been in place for a long period, have contributed substantially to the value created for all of Leighton's 57,000 shareholders. The current arrangements with Hochtief are expected to continue. The Board will convene at the earliest possible time to elect a new Chairman. The Company will make a fuller statement in due course. 

Company Quote

0.36 +1.67%
31 Oct 2014