Only weeks after appointing a new CEO UGL Limited (ASX:UGL) has announced its chairman will retire following the company’s annual general meeting.
The engineering company says Trevor Rowe will step down at the end of the meeting on the October 30, 2014 following 11 years in the job.
UGL’s board has decided to appoint Kate Spargo as his replacement who was appointed to the company’s board in 2010.
The news comes less than a month after UGL appointed Ross Taylor to take the reins from current CEO Richard Leupen on November 24.
UGL reported a net profit of $31.3 million in the first half of the 2014 financial year.