Ausdrill CFO departs for Adelaide Brighton

Ausdrill has announced its chief financial officer Theresa Mlikota will leave company within the next three months to undertake the same role at ASX-listed construction materials and lime producer Adelaide Brighton.

Ausdrill chief integration officer Peter Bryant will be the acting CFO, while an executive search process takes place with internal and external candidates to be considered.

Mr Bryant was Barminco’s CFO for over five years before Ausdrill acquired the company for $271 million in August.

Ms Milkota has served as Ausdrill CFO since December 2015, and will take the reins from Adelaide’s acting CFO, Darryl Hughes, from April 15.

Prior to this position, Ms Mlikota was CFO at Fulton Hogan, Thiess, and Macmahon Holdings.

Ausdrill chief executive Mark Norwell said Ms Mlikota played a leading role in Ausdrill’s acquisition of Barminco.

“On behalf of the board I wish to congratulate Theresa on her appointment and thank her for the significant contribution she has made to the Ausdrill Group over more than three years,” he said.

Adelaide Brighton incoming chief executive Nick Miller said Ms Mlikota has extensive experience in team leadership, financial risk management, and strategy and development.

Last week, Ausdrill made 13 employees at its Boulder workshop redundant, which it said was due to internal restructuring.

Shares in Ausdrill were down 7.26 per cent to trade $1.15 each at 1.40pm AEDT.