WBHO’s chair of 11 years will retire in November, sparking a top-management shakeup as the construction group flagged a sharp decline in full-year earnings due to a troublesome roads project in Australia.
Wylie oversaw a turbulent period for the contractor, which was fined for its role in colluding with peers on projects “His leadership throughout this time has resulted in the continued growth and stability of WBHO,” the company said on Monday. The group said CEO Louwtjie Nel will take over as executive chair when Wylie steps down. This will “ensure the constructive and effective relationship between the board and executive management continues”.
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