Boral announce CEO contract arrangements

Company retains flexibility over appointment of Ross Batstone as search for new MD/CEO commences

BORAL have announced the contract arrangements for the company’s new interim chief executive officer, Ross Batstone, following the recent departure of former incumbent Mark Selway.

Mr Batstone, previously divisional managing director of Boral Building Products, has been appointed as CEO of Boral Ltd until his retirement on 1 July 2013, although the company has the flexibility to call upon him to step down earlier or to continue in the role beyond 1 July 2013, pending the appointment of a new managing director/CEO.

Boral’s chairman, Dr Bob Every, said: ‘The board looks forward to working closely with Ross and his management team as they continue to implement the programmes of lean manufacturing and sales and marketing excellence, and the continued integration of Boral Gypsum Asia.’

Dr Every added that the board had commenced an international search process to identify both internal and external candidates for the role of managing director/CEO, and that significant flexibility had been built into Mr Batstone’s contract to cater for a smooth transition with the new appointment.

Commenting on his new role, Mr Batstone said: ‘I will be working closely with the board while supporting our people to continue extracting the benefits from our current initiatives, particularly in the challenging marketplaces of Australia and the US.

‘I want to ensure the company is well placed to leverage its assets and market positions to maximize returns as markets return to more normalized levels.’

Meanwhile, Boral have announced that Bryan Tisher, current executive general manager of timber, will replace Mr Batstone in the position of divisional managing director of Boral Building Products.