In a management shake-up, Leighton Holdings Ltd., the St. Leonard's, Australia-based contractor, has named Harnish Tyrwhitt to be CEO. A 26-year company veteran, he replaces David Stewart, who resigned on Aug. 25 after eight months in the position. He had succeeded Wal King, who served 23 years as CEO. Since 2007, Tyrwhitt had been managing director of Leighton Asia Ltd., based in Hong Kong, and a director of Leighton Contractors (Asia) Ltd. The company claims Leighton Asia “is now considered one of the top-tier contractors” in Hong Kong. Earlier this year, Tyrwhitt also took over management of Leighton's offshore and India operations. The contractor's board also elected as its new chairman Stephen Johns, a corporate director since 2009. He replaces David Mortimer, who stepped down on Aug. 24.
Leighton credits Stewart for “stabilizing the firm,” but says “new leadership is now required for Leighton to move forward.” The contractor ranks 11th on ENR's list of the Top 225 Global Contractors, with $18.5 billion in total revenue in 2010, about $3.6 billion outside Australia. But Leighton posted a $435-million loss last month in its results for fiscal 2011, noting difficulties at its $3.7-billion desalination plant in Australia and cost overruns at its Brisbane Airport link project.