Sudden CEO switch at AusGroup

John Sheridan has made a quick exit from AusGroup, with the engineering contractor announcing today he would be replaced by former boss Stuart Kenny as chief executive after just three years.

Mr Kenny previously served as managing director and chief executive of the group for four years until January 2008.

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Common Sense
There seems to be an intriguing trend, in resources, energy and now engineering businesses where chairman, non-exec, directors and senior executives leave suddenly? The common thread is foreign ownership, even when it not a majority. Be very careful!

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