Leighton Holdings Limited (ASX:LEI) management shake up was orchestrated by the company’s offshore owners. That’s according to a report by The Australian.
Yesterday chief executive David Stewart was replaced by the head of Leighton’s Asian operations Hamish Tyrwhitt. The day before, chairman David Mortimer resigned.
The Australian reports the orders were handed down by ACS, the Spanish construction giant that controls Leighton’s parent Hochtief.
For the year to June 30 Leighton reported a net loss of $406 million.
LEI Price at posting:
$20.61 Sentiment: None Disclosure: Held
