Another Forge founder rides into sunset

Forge Group has continued its management shake-up, with the second of its three founding directors, Andrew Ellison, set to step down, and a new chief operationg officer recruited.

The Perth-based engineering and construction group announced today that former Ausenco Group chief operating officer Brett Smith had taken that role at Forge, and that Mr Ellison would vacate his position of executive director by July 31.

Mr Smith will oversee the company’s Cimeco and Abesque Engineering divisions in his new role.

Founding managing director Peter Hutchinson will step down from his role on July 9, as previously announced, to be replaced by David Simpson.

The third of Forge's founding directors, Greg McRostie, has extended his contract as managing director of Abesque.

“The Forge board has been meticulously planning the transition of the company’s board and management structure for the past 18 months to capitalise on the next and most exciting phase of the company’s development,” non-executive chairman David Craig said.

Mr Hutchinson said the restructuring was aimed at making the company more seamless and integrated, but reiterated Forge would continue to trade as Cimeco, Abesque, Webb and CTEC.

“Forge’s business model is unique to the mining services sector and to take full advantage of this, the new leadership team with a more flexible structure will be able to invoke a more cooperative and collaborative approach to group business opportunities,” Mr Hutchinson said.

At close of trade today, Forge shares were down 1.7 per cent, trading at $4.64.