Austal (ASX:ASB)'s US president resigns

Company News

by Michael Luu

Australian-based ship builder Austal (ASX:ASB) has farewelled US chief Craig Perciavalle.

The resignation came on the back of investigations by the Australian Securities and Investments Commission and US regulatory bodies. Austal’s US business was scrutinised on the write back of work in progress associated with the Littoral Combat Ship project. Austal (ASX:ASB)’s US chief financial officer has been appointed interim president for the time being.

Shares in Austal (ASX:ASB) are trading 15.79 per cent lower at $2.08

Michael Luu

Finance News Network
Michael joined FNN in December 2017 with a passion for creativity and TV production. Possessing over four years of international experience in broadcasting, he has hosted, edited and produced video content for Vietnam’s national broadcaster VTV, Germany’s DWTV and the APEC Summit. Michael is also a freelance videographer and casual correspondent for VTV in Australia.