Leighton chairman retires

Leighton Holdings’ chairman, Bob Humphris, has retired from his post and also stepped down from his role as non-executive director. Replacing him as executive chairman is the company’s CEO, Marcelino Fernández Verdes.

The Australian contractor has also made two further appointments to its board. Russel Chenu and Trevor Gerber join as independent non-executive directors.

Mr Chenu brings more than 20 years of experience as CFO for a number of large Australian organisations. He will take up the post of chair of both the audit committee and ethics and compliance committee.

Mr Gerber will be the chairman of the remuneration and nominations committee. He brings a wealth of experience in property, funds management, hotels/tourism, infrastructure and aquaculture industries.

In March, Hochtief installed its CEO, Marcelino Fernández Verdes as CEO of Leighton Holdings. The move came after Hochtief’s offer to increase its stake from 58.77% to 73.82% at a cost of some US$ 1.09 billion.