The chief executive of Balcatta-based transport systems technology developer ERG Group Ltd, Allan Sullivan, will retire today, the company said in an announcement.
The full text of a company announcement is pasted below
The Chairman of ERG Limited, Colin Henson announced today that the Company's Chief Executive Officer, Dr Allan Sullivan, will retire today, 29 June 2007.
Mr Henson also announced that Mr Steve Gallagher, Head of ERG Large Projects and Mr James Carroll, Chief Financial Officer will be appointed to the Board of ERG Limited as Executive Directors. Steve Gallagher as Executive Director - Operations, and James Carroll as Executive Director - Finance. They will share responsibility for the day-to-day operations and the strategic development of ERG.
Allan Sullivan commented:
"I joined ERG Group in January 2004 with the objective of reengineering the Company to ensure its ongoing financial viability. This reengineering is not complete but the Company is operating profitably and good cashflow, in the coming 12 months, seems secure. It is now appropriate for new management to take on the task of optimising profit and cashflow and to secure a recurring income stream from the established customer base. I wish to thank the board, management, staff and shareholders for their support during these three and a half years and wish all those involved success with the next phase of ERG's progress."
Colin Henson said that Dr Sullivan has led ERG through an extremely challenging three and a half years during which the Company has completed a financial restructuring, achieved significant project milestones on its major projects and won business in a number of new markets.
"The ERG board is confident that Allan Sullivan is leaving ERG with a sound platform in place that will enable the Company to realise significant value in the future. The board wishes to acknowledge his contribution as Chief Executive since 2004 and wish him well in his retirement."
