MALAGA-BASED Australian Waterwise Solutions Ltd, which owns the Hugall & Hoile reticulation business, has revealed that a former executive received more than $400,000 in unauthorised payments. AWS said in an announcement that it had expected the money to be fully repaid on an undertaking from the individual involved, but was no longer confident that this would occur. Other recent developments at the company include the resignation of Joe Ferrone and Rohan Hardie from the board, and the sale by shareholders David and Ian Schwartz, and CIM Divident Income Fund, of their stakes in the firm. AWS has appointed Mark Armitage as executive director and Geoff Gander as non-executive chairman.
