Sudden CEO switch at AusGroup

John Sheridan has made a quick exit from AusGroup, with the engineering contractor announcing today he would be replaced by former boss Stuart Kenny as chief executive after just three years.

Mr Kenny previously served as managing director and chief executive of the group for four years until January 2008.

AusGroup chairman Chew Kia Ngee said Mr Sheridan had been a very committed chief executive who served the group diligently during his tenure.

"We thank Mr Sheridan for his hard work over the past few years and wish him well as he pursues the next phase of his career," said Dr Chew.

"With so much of our activity focussed on the exceptionally strong resources sector in Western Australia where high commodity prices are fuelling investment in a number of large projects, we look forward to further growth opportunities for the group."

AusGroup's order book currently stands at $288 million, including the recently-announced $60 million contract for early works at Gindalbie's Karara iron ore project, and a $50 million deal from Chevron for fabrication work for its Gorgon liquefied natural gas project.