Decmil non-executive director Denis Criddle has takeover over from chairman Dennis O'Neill after the latter today stepped down from the position.
Decmil non-executive director Denis Criddle has takeover over from chairman Dennis O'Neill after the latter today stepped down from the position.
The announcement is below:
As previously announced, WA-based engineering and construction company Decmil Group Limited ("Decmil") ("the
Company") (ASX: DCG) today confirmed that Dennis O'Neill stepped down from the position of Chairman.
Mr O'Neill stated his intention to resign as Decmil Chairman in a statement to the Australian Securities Exchange
(ASX) on 23 April 2009 and coincided with the Board's announcement of a strategic refocus of its activities and
efforts on its Western Australian operations.
Mr O'Neill was appointed Chairman in November 2006 after joining the Board as a Non-Executive in September
2006. During his tenure, the Company completed a number of strategic acquisitions, including Decmil Australia
which underpinned the Group's outstanding performance in 2009/10.
Mr O'Neill said that in challenging economic conditions, the Group had continued to secure substantial contracts with leading resources and energy clients which, together with a strong cash position, provided the Company with a
strong platform to expand and grow its operations into the future.
"It has been pleasing to witness the positive results from the Board's revised direction and strategy which will see the Company move into the next financial year with strong forward growth prospects for each subsidiary company," Mr O'Neill said.
"It is also satisfying to see the growing market recognition of Decmil's performance and the lift in the Company's share price."
"This result is testament to the high calibre of people working across to Group to deliver a sustainable return for our shareholders and I take this opportunity to thank my fellow Directors and every employee who has contributed to
Decmil's strong performance."
"I look forward to watching the Group's continued success, potentially lifting its status from a small-cap to a mid-cap
company on the ASX."
Mr Denis Criddle has been appointed as DGL Chairman effective immediately.
He joined the company as a Non-Executive Director in August 2007. Mr Criddle, a civil engineer with more than 30 years experience in the civil construction and maintenance industry in WA's northwest and in Queensland, is the founder of Decmil Australia Pty Ltd which was acquired by Decmil Group.
The Board paid tribute to Mr O'Neill's contribution to the Group over the past three years and wished him every
future success.
