The CEO of civil contractor Brierty, Stuart Crofts, has resigned following discussions about the company's future direction and strategy.
The CEO of civil contractor Brierty, Stuart Crofts, has resigned following discussions about the company's future direction and strategy.
Mr Crofts has told the Brierty board he is planning on pursuing his career elsewhere.
The company's chief financial officer Tony Bevan has been appointed acting CEO.
Brierty chairman Dalton Gooding thanked Mr Crofts for his contribution to the Company, especially in putting in place systems and disciplines to support strong growth into the future.
"Stuart played an integral role in developing and improving our internal processes to support sustainable growth and excellence in project management. We wish Stuart every success in the future," said Mr Gooding.
He said Brierty would report its full year financial results for FY10 on 24 August.
"Our FY10 profit will be in line with market forecasts and we are expecting strong revenues in the first half of FY11, said Mr Gooding.
Mr Croft was appointed managing director in September 2008.
He took on the job after company founder Alan Brierty stepped down to become a non-executive director.
Full company statement below:
Civil contractor Brierty Limited (ASX: BYL) wishes to announce the resignation of CEO Stuart Crofts.
His resignation follows discussions with the Board of Brierty on the Company's future direction and growth strategy.
During his time at Brierty, Mr Crofts oversaw the Company's return to profitability and a significant overhaul of its business management systems.
Mr Crofts has told the Board he will now pursue his career elsewhere. Brierty CFO Tony Bevan will become Acting CEO pending a permanent appointment to the role. The Board will appoint a replacement CEO in due course.
Brierty Chairman Dalton Gooding thanked Mr Crofts for his contribution to the Company, especially in putting in place systems and disciplines to support strong growth into the future.
"Stuart played an integral role in developing and improving our internal processes to support sustainable growth and excellence in project management. We wish Stuart every success in the future," said Mr Gooding.
He said Brierty would report its full year financial results for FY10 on 24 August.
"Our FY10 profit will be in line with market forecasts and we are expecting strong revenues in the first half of FY11, said Mr Gooding.
The Board of Brierty comprises Chairman Dalton Gooding, non-executive directors Alan Brierty, Bob McKinnon and Ken Hellsten.