McGlinn finishes ICRG role
You can purchase access to this special report or subscribe to Business News.
Subscribe to Business News.
Western Australia’s largest indigenous contractor has parted ways with chief executive Jeff McGlinn, less than a year after the former NRW Holdings boss was lured out of retirement.
His departure comes after Welshpool-based Indigenous Construction Resource Group said it had suffered a year-on-year decrease in forward work contracts.
It also comes shortly after major changes to its ownership and board of directors, including the buy-out of long-running shareholders Clinton Wolf and Azure Capital.
In tandem with the ownership changes, South Hedland-based traditional owner Raymond Drage was recently elected chairman, to succeed Mr Wolf.
Other new directors were Mr McGlinn, chief operating officer Shane Cable and Geraldton-based Sarita Attwood.
Mr McGlinn (and his family) had also become a substantial shareholder, with a 16 per cent stake in ICRG’s parent company Dreamtime Consulting.
The changes come two months after ICRG was named 2016 business of the year at the Perth NAIDOC Awards.
ICRG said at the time it had annual turnover of about $63 million, with a client list including Fortescue Metals Group, Rio Tinto, Roy Hill, BGC Contracting, Brierty and Mineral Resources.
With 210 staff nationally and 168 in WA, that made ICRG the largest indigenous contractor in WA, according to the BNiQ Search Engine.
The company said today it had decided to refocus on the delivery of its core business of providing genuine employment and training opportunities to indigenous people through the provision of contract services to clients in the civil, mining and construction sectors.
Reflecting the change to a more operational focus, the board has appointed former chief operating officer Shane Cable as interim chief executive.
"I look forward to discussing ICRG's renewed strategy and proven capabilities with existing and potential clients in the coming weeks," Mr Drage said in a statement.
The statement said Mr McGlinn will not continue in an executive role with the organisation.
Business News understands staff were told yesterday that Mr McGlinn would be leaving the business.
Today’s statement said the ownership changes had lifted indigenous ownership to 29 per cent – from about 25 per cent previously.
That falls well short of its goal of obtaining 51 per cent indigenous ownership, in order to obtain Supply Nation accreditation.
Its largest shareholder is Attadale-based Robert Allen, who holds a 20 per cent stake along with Gwendoline Allen, according to Dreamtime’s ASIC returns.
Other shareholders are Clinton Thompson (15 per cent) and Maddington-based Rapid Crushing (5 per cent).