Macmahon appoints new CEO

Macmahon Holdings chief financial officer Sybrandt van Dyk has been promoted to the role of chief executive, following Ross Carroll’s resignation in January.

Mr van Dyk joined Macmahon in April last year after holding a number of senior operational roles at Seven Group Holdings’ heavy equipment division, WesTrac, including chief financial officer and general manager of mining in Western Australia and NSW.

Macmahon chairman Jim Walker said that, since he joined the company, Mr van Dyk had been instrumental in reshaping the business into a leaner, more dynamic and resilient business.

“Over the past 12 months, Sybrandt has successfully implemented a major cost reduction program, spearheaded lengthy negotiations with our financiers, managed the disposal of excess equipment and successfully executed the sale of our Mongolian business – all of which has significantly enhanced Macmahon’s financial position,” Mr Walker said.

He said the appointment followed an extensive search process for Mr Carroll’s successor.

“While our decision has ultimately been to select an internal candidate, we felt it was important to test the market. In the end, we are very happy with where we have landed,” Mr Walker said.

Mr van Dyk is a chartered accountant by background, and has over 25 years’ experience in sales, operational and financial roles, mainly in the resources sector.

The terms of Mr van Dyk’s incentive remuneration is still being finalised.

Shares in Macmahon were 1.4 per cent higher to 7.1 cents each at 9:45am.