Leading mining and civil contractor NRW Holdings Limited (ASX:NWH) has announced that Andrew Walsh has given notice of his intention to retire as chief financial officer. The effective date of Mr Walsh’s retirement is expected to be in the latter part of 2022, subject to any ongoing requirements.
Mr Walsh joined NRW in 2014 and has been an integral part of the growth of the company since then, including overseeing the acquisitions of Golding, BGC Contracting and Primero Group. His tenure with the company has seen NRW’s group revenue increase from $1.1 billion to more than $2.5 billion.
As part of a structured transition plan, NRW has undertaken an extensive process for a suitably qualified replacement CFO and is pleased to advise that Richard Simons has accepted the role.
Mr Simons, who is currently the CFO at Clough Limited, will commence with NRW on October 3. He has been CFO at Clough, a global engineering and construction company, since June 2015 and his prior experience includes the CFO role of another ASX-listed entity, together with a prior period at Clough where he reported to Mr Walsh.
“For the last eight years it has been a great pleasure to work with Andrew as we took the NRW group to new levels,” NRW managing director Jules Pemberton said.
“His business acumen, stakeholder engagement and support for the executive, coupled with the benefit of his accumulated life skills, have been of immeasurable value to both NRW, and myself on a personal level. I wish him all the best in the future.
“With the appointment of Richard Simons to the role of CFO, given his deep knowledge of the contracting sector together with his corporate acquisition experience, I am confident that we have the right person to fill Andrew’s shoes for the next stage of the NRW journey.”
NRW chairman Michael Arnett added:
“We have been honoured as a business to have been the recipient of Andrew’s knowledge, experience and commitment over the past eight years. Andrew’s immense contribution to us as a valued colleague and friend is acknowledged by the board and all of the staff at NRW.
“Andrew’s impending retirement brings to an end a long and successful career and I wish Andrew and his family a long and happy retirement on behalf of all of the staff and our shareholders.”
NRW expects to report its full-year results on August 18. A conference call will be hosted by Mr Pemberton and Mr Walsh. The call will commence at 10am AWST. Participants can register for the conference by navigating to https://s1.c-conf.com/diamondpass/10023979-cmtus32.html.
