Clough Limited has made sweeping changes to the board and senior management team. Founder Harold Clough will step down as chairman but remain a non-executive director. The new non-executive chairman will be Ross Kelly, who is currently an independent non-executive director. Dr Brian Hewitt will retire as CEO & Managing Director when a replacement is found and is assisting with Clough’s corporate restructuring.
Directors Peter Knight, Richard Reid and Bill Clough have also retired from their positions. Richard Reid remains company secretary. Clough also said it will merge the heads of Clough Limited and Clough Engineering Limited, and dismantle the board of Clough Engineering Limited. The operating divisions will report to Rob Jewkes in the newly created position of Chief Operating Officer (COO).
Clough has also put a troubleshooter in charge of the operations of the Engineering and Construction business units, concentrating on company's risk assessments and commercial focus. Investors will be hoping he will be able to avoid a repeat of the damaging project blowouts that have plagued Clough this year. Former United Construction MD, Simon High, has been appointed Executive Group Manager – Operations.
Another executive management appointment has been made with Paul Archer taking up the position of Group Manager - Legal & Commercial. Archer has 13 years of experience with Freehills and Clayton Utz in Australia and as Corporate Counsel with oil services giant Schlumberger in Houston, Aberdeen and finally corporate headquarters in Paris.
The board of Western Australian utility Western Power has endorsed a new management structure following the departure of long-serving chief executive David Eiszele.
The management team, headed by interim chief executive Nenad Ninkov, will work with a government appointed committee to implement the Gallop government’s much-hyped electricity reforms, including the splitting up of Western Power into four entities.
Western Power said it has abolished the position of managing director and is on the lookout for a new chief executive. Mr Eiszele departure six months before his contract was due to expire sparked accusations of political interference as well as criticism over his $400,000 termination payout, which will be funded by taxpayers.
Rural, hardware and energy giant Wesfarmers will meet tomorrow to discuss the appointment of a new chairman to replace Harry Perkins, who died on Saturday after a battle with lung cancer.