30/01/2013 - 09:56

Former Macmahon boss joins Tempo Australia

30/01/2013 - 09:56

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Former Macmahon Holdings boss Nick Bowen has been appointed executive chairman of Sydney-headquartered engineering, maintenance and construction group Tempo Australia.

Tempo announced yesterday Mr Bowen would commence in the role from March 11.

The group's official headquarters remains in Sydney, but prominent members of its senior management team, including Mr Bowen, managing director Dick Wright and director Charlie Bontempo, are based in Perth.

“This is a real coup for Tempo and a huge endorsement of the company and its direction,” Mr Wright said.

“He has a wealth of experience with some of the most prominent mining and infrastructure projects, both in Australia and overseas, and is well respected in the mining community worldwide. “

Mr Bowen surprisingly resigned as chief executive at Macmahon in September last year, after the company issued a profit downgrade of more than 50 per cent, just four weeks after predicting its full year profit would rise 20 per cent.

Prior to joining Macmahon, Mr Bowen spent 14 years with mining contractor Eltin.

Mr Bowen will invest $500,000 in Tempo, at 8.55 cents per share.

“The board of Tempo view Mr Bowen’s investment as a further endorsement of his belief in the company’s vision and our ability to rapidly grow Tempo as a significant player in the resource services sector,” incumbent chairman Robert Whitton said.

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