Austin Engineering (ASX:ANG)
, a supplier of customised mining equipment with operations in Australia, Asia and the Americas, has appointed David Singleton as CEO and Managing Director, effective from 14 July 2021.
On 17 May 2021, the company had announced the retirement of previous CEO, Peter Forsyth.
Mr Singleton, a Non-Executive Director of the company, has experience as CEO of ship-building company Austal, overseeing operations in Australia, the USA, the Philippines and Vietnam. Prior to this role, Mr Singleton was CEO of engineering and construction firm Clough.
Mr Singleton's base pay will be less than half that of his predecessor, with the remainder of his package being options. None of these options will be exercisable until the share price reaches at least 20c.
Shares in Austin Engineering (ASX:ANG)
are trading 3.6 per cent higher at $0.14.