Perth-based shipbuilder Austal Ltd has today announced that its executive chairman will step down while its US-based chief executive, former Alinta chief Bob Browning, will takeover the Australian operation.
After dismissing media reports earlier this year speculating board changes, the company today announced that executive chairman John Rothwell will step down in August to a non-executive chairman role.
Mr Rothwell said that his role would be to support Austal in activities traditionally undertaken by non-executive chairmen and he would also offer consultancy services as required.
Meanwhile, president and chief executive of Austal USA Bob Browning, will assume the role of managing director and chief executive of Austal Ltd.
As a consequence, Mr Browning will assume responsibility for all operations of the company globally.
Reflecting the importance of the current and future operations in the US, particularly those in the military arena, Mr Browning will remain domiciled in Mobile, Alabama. Since joining Austal USA in August 2007, Mr Browning has built a strong team of professional managers and shipbuilders in Mobile, which will allow him to expand his focus to the broader needs of the corporation.
On taking up his new position in August 2008, Mr Browning will be appointed to the Board of Directors of Austal Limited.
It is expected that Mr Browning will spend a considerable period of time each year working in Australia. His travel schedule will also include visits to clients and suppliers around the world and briefings to analysts and financiers in Australia and overseas.
In announcing the changes Mr Rothwell said that the Board was extremely pleased that Bob Browning had agreed to become Managing Director/CEO at a time when the company was entering a new and exciting phase in its global development.
