Sutton resigns from MACA

MACA has selected chief development officer David Greig to take over from outgoing chief executive officer Mike Sutton, who has stepped down after two and a half years with the contractor.

Mr Sutton will officially retire from leading MACA on July 22 but will remain with the company for an unspecified period to oversee the transition.

“Mr Sutton’s decision is motivated by his desire to bring forward his retirement plans and spend more time with his family,” MACA said in a statement.

During his two-and-a-half-year tenure with MACA Mr Sutton oversaw the acquisition of Downer’s Open Cut West business in February 2021, which added 700 new employees to its workforce and brought on four big WA contracts.

MACA chair Geoff Baker thanked Mr Sutton for his contribution to the business.

“Mike has been instrumental in restructuring the MACA business to take advantage of the significant growth through the successful acquisition of the Open Cut West business in 2021, and the subsequent seamless integration into the MACA business,” he said.

Mr Sutton is replaced by MACA’s chief development officer David Greig, who has worked as the company’s general manager business development and chief operating officer since joining in 2016.

“David Greig has excelled in a broad exposure to senior management roles preparing him to assume the CEO role when the opportunity arose,” Mr Baker said.

He will be remunerated $660,792 per annum.

As well as the management changes, MACA also told investors it expected full year earnings would be “materially in line” with previous guidance, which stood at $189 million to $191 million as per its most recent half-yearly update.

MACA shares last traded 2.05 per cent lower at 72 cents.