21/08/2013 - 15:05

Doric CEO steps down after strategy change

21/08/2013 - 15:05

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Doric CEO steps down after strategy change
Departing Doric chief Peter Iancov.

Doric chief executive Peter Iancov has resigned after the diversified contractor decided to defer some of its growth strategies.

The privately held company said chairman Harry Xydas would take a more active role.

It has no plans to appoint a new CEO, instead leaving Vince Mulholland to run the building construction and defence arm, and Dan Foo to run the resources and infrastructure division.

The company said Mr Iancov joined Doric with the aim of growing the business into a general contractor operating across the resources, infrastructure and building construction sectors.

“In many ways we have entered these markets and positioned Doric as a significant player, however, following a recent strategic review both Peter and the board have concluded that some of our growth strategies should be deferred,” the company said in a statement.

“Consequently, Peter has decided that it is an appropriate time to move on to new challenges.”

Doric is the third largest building construction company in WA, behind only Brookfield Multiplex and John Holland, according to Business News most recent review of the sector. The review excludes housing construction.

It’s portfolio of projects includes Acacia Prison, Busselton Health Campus, WA Institute for Medical Research facility, BHP Billiton’s Jimblebar mine facility and the City of Perth Library.

The company said its objective for the next 12 months was to build upon the strengths of the two independent divisions.

Mr Iancov will continue at Doric until mid-October, to ensure a smooth transition.

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