04/09/2009 - 11:58

Clough CFO Andrew Walsh quits

04/09/2009 - 11:58

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Engineering and construction company Clough today announced that Andrew Walsh has resigned his role of chief financial officer and executive director and will terminate his employment on 30 September 2009.

Clough CFO Andrew Walsh quits

Engineering and construction company Clough today announced that Andrew Walsh has resigned his role of chief financial officer and executive director and will terminate his employment on 30 September 2009.

“Andrew has been with the Company for 6 years having joined as the business was entering a very difficult period," Clough CEO John Smith said.

"He has shown exceptional commitment and diligence in helping to steer the company through that period."

"For the second successive year we have delivered an excellent financial result which puts us in a net cash position with the strongest balance sheet in the history of the company.

"Andrew should take great credit in the role he has played and he will leave us in good shape poised for further growth. I wish him every success with his next venture”.

With immediate effect, and for an interim period Richard Simons and Neil Siford will split the responsibilities with Richard responsible for finance, treasury and investor relations and Neil responsible for management and statutory accounting.

The company has commenced a search for a replacement and in that process will consider both internal and external candidates.

In other news, Paladin Energy's acting CFO, Mark Bolton, who has been employed under contract will leave the
company shortly to take up a permanent appointment. Mr Bolton will remain with Paladin until completion of
the September 2009 Quarterly Financial Statements and his replacement will be announced in due
course.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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