Austal Limited
(ASX:ASB) says CEO Andrew Bellamy has resigned and will be succeeded by non-executive director David Singleton.
Andrew Bellamy has spent five years at the helm and is electing to take a career sabbatical. During his time with Austal, Mr Bellamy grew revenue threefold and saw record profits.
Mr Singleton brings experience in the defence, manufacturing and military product fields. He will commence as CEO-designate in February and assume the role in April.
A search for a new director for the board is underway.
Austal reported a net profit of $53.15 million for the 2015 financial year.
