 |
 |
||||||
[October 2009]
Mark Selway Appointed as Boral's Next CEO
The Chairman of Boral (Sydney, NSW, Australia), Dr Ken Moss, has announced that the Board has appointed Mark Selway as the next CEO of Boral Limited, effective from 1 January 2010. Dr Moss said Mr Selway would replace Rod Pearse, who announced earlier this year that he would be retiring at the end of December 2009 after 10 years at the head of Boral.
Dr Moss said Mark Selway has had an impressive career in the industrials sector with broad international experience and has a strong track record of world-class manufacturing excellence and growth through innovation and geographic expansion.
Mr Selway, who is Australian, has been the Chief Executive of the Weir Group PLC, a Scottish headquartered, publicly listed engineering business, since 2001. Since he joined Weir, the business has been transformed into a highly focused industry leader in the design, supply and service of engineered equipment for the oil & gas, mining and power & industrial sectors.
“After a comprehensive international search, the Board is delighted to appoint Mark to the position of CEO as we feel his experience, track record and capabilities are ideally suited to Boral’s future development,” Dr Moss said. “Boral remains a fundamentally strong company, and is well-positioned to benefit from the inevitable recovery from the current global economic downturn. Mark has proven leadership capabilities in competitive environments and a proven ability to deliver against both performance and growth imperatives.
“In his new role, Mark will be supported by a committed management team at Boral. He will work with Rod Pearse and the rest of the team to ensure a smooth and seamless transition. On behalf of the Board, I want to thank the internal candidates who were strong contenders for the position. The calibre of the internal candidates considered by the Board demonstrates how fortunate we are at Boral to have such a strong executive team.
“I also want to take this opportunity to once again thank Rod for his outstanding contribution to Boral over the past decade and for his extraordinary commitment to the Group, its employees and shareholders.”
Mr Selway brings with him eight years of CEO experience at the Weir Group, which has an annual turnover of around A$3 billion and employs over 9,000 employees in 42 countries. Mr Selway has worked in the UK for more than 13 years and, prior to that, was based in the USA for seven years in the North American automotive market.
He said he was pleased to have been appointed to the position of CEO of Boral, a major Australian company with a proud history and strong market positions. “I am excited about the prospect of leading Boral. These are tough markets and the macroeconomic environment is challenging, but Boral is an outstanding business with the people, products and financial strength to weather current difficulties and strengthen its position in its chosen markets”, he said.
“I look forward to working with the Board and the Boral team to ensure we strengthen Boral’s position, and continue to deliver strong returns for Boral’s investors.”
www.boral.com.au
ENDS