BUCKLEY TO LEAVE CARDNO

BUCKLEY TO LEAVE CARDNO

 LONG time Cardno (ASX:CDD) boss Andrew Buckley (pictured) will retire in March to be succeeded by executive general manager international, Michael Renshaw.

Buckley, the chief executive officer and managing director, has guided the company for 16 years, from humble beginnings as a consultancy, to international infrastructure and environmental services company.

The company has been amongst the best performed on the ASX since listing in 2004, having increased market capitalisation from $30 million to about $1 billion with operations in 85 countries in 290 offices.

"It has been my privilege to lead Cardno and to contribute to the growth the company has achieved," says Buckley in a statement.

"I am also very proud of the commitment and achievements of all Cardno staff that i have worked with during my time with Cardno.

"However, it is now time to pass the leadership on to the next generation to lead Cardno to what I am sure will be a strong and exciting future."

Renshaw has worked for CDD since 2003 and in that time has build the United States operation from scratch, to contribute half the company's revenue today.

Marlay says the move is part of the company's succession process and comes after a extensive search for a replacement for Buckley.

"The board believes Michael Renshaw's deep knowledge of Cardno's business and his experience in developing Cardno's North American operations ... provides a strong foundation to lead Cardno's vision to become a world leader in the provision of professional services."

Renshaw will be paid a fixed amount of $700,000 annually, bolstered by a potential short term incentive valued at up to $1,050,000 and a long term incentive under the company's performance equity plan.

CDD is trading down 1.35 per cent at $6.600 per unit this morning.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Does your pay structure answer today's challenges?
Partner Content
If you are not reassessing how your organisation remunerates and rewards employees as a...
Aon
Advertisement

Related Stories

Shine launches class action against QSuper

Shine launches class action against QSuper

Members of QSuper have filed a class action against the super fund ...

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Health insurer nib (ASX: NHF) has put its weight behind healthcare ...

Reprieve for EML Payments as Irish regulators allow new customers and programs

Reprieve for EML Payments as Irish regulators allow new customers and programs

The dreaded 'Bank of Ireland Update' has become an ominous ...

GURNER, Qualitas raise $1.2 billion for rent-to-build platform

GURNER, Qualitas raise $1.2 billion for rent-to-build platform

Developer GURNER and alternative real estate investment manager Qua...