Southern Cross Electrical Engineering managing director Simon High has announced his impending retirement after spending nearly five years at the helm.
Mr High advised the company’s board of his intention to retire from a full-time executive position, but said he would stay in the role until a suitable replacement is found.
“Whilst SCEE has developed a sound growth strategy, it is important for the incumbent CEO to be able to take full ownership of both implementation and execution of that strategy over the growth cycle, which was the prime consideration for the board and me as to the timing of my retirement,” Mr High said.
The board has begun a formal search process for Mr High’s replacement.
Shares in SCEE were 4.25 per cent lower at 45 cents per share at the close of trade.