Andrew Wood has retired as chief executive of engineering giant Worley and been replaced by the company's chief operating officer, Chris Ashton, in a move that has surprised the markets.
WorleyParsons has been awarded a contract extension for engineering services at Chevron's Gorgon and Wheatsone LNG projects, while NRW Holdings has received a $93 million extension to its Stanmore Coal contract.
Engineering group WorleyParsons is seeking to raise $322 million to fund the acquisition of AFW UK Oil & Gas, which provides services to the oil and gas sector in the UK.
Engineering and project management firm WorleyParsons says the slump in activity among its customers, which caused revenue to plunge by 35 per cent and pushed the company to a first-half loss, may have bottomed out.
WorleyParsons shareholders targeted Perth-based director Erich Fraunschiel in a protest vote at today's annual meeting, where the engineering giant disclosed it has cut a further 900 jobs over the past three months.
Australia's largest engineering group, WorleyParsons, has announced an unusual succession plan, with internal candidate Andrew Wood selected as the new CEO and incumbent John Grill planning a five-
