Asciano Group (ASX:AIO) has announced the appointment of Angus McKay as Chief Financial Officer, following his resignation from Foster's Group Ltd (ASX:FGL) today.
Mr McKay will begin his role for the rail and ports operator, having served as Foster's CFO for over two years.
Asciano's managing director and CEO Mark Rowsthorn says Mr McKay will hold the most senior finance position in the company overseeing the $4.5 billion business.
Foster's CEO Ian Johnson advises a selection process is now underway to replace Mr McKay.
Asciano says its full year loss in fiscal 2010 was impacted by impairment charges of $1.14 billion.
However, looking ahead the group remains positive and expects growth from resources and bulk commodity sectors.
Asciano Group posted a loss of $246.44 million in fiscal 2009, dropping to a further loss of $976 million in 2010.
AIO Price at posting:
$1.74 Sentiment: None Disclosure: Held
