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AUSTAL DECIDES ON NEW CEO

Wednesday, June 3, 2020 

John Rothwell, Chairman of Austal Limited has announced that COO Patrick Gregg will be promoted to the position of CEO effective 1 January 2021, following a six month transition from current MD and CEO David Singleton.

Gregg's experience includes time at BAE systems where he was Project Director on the Hunter nuclear submarine. In 2016 Gregg was appointed as Austal COO with a view to him taking over the CEO role in the future. Since his appointment Austal has set up operations in Vietnam, expanded its operations in the Philippines and won a new Cape class contract with the Australian Government.

“Our shipyards in Australia, the Philippines, Vietnam and China are working incredibly efficiently while producing quality defence and commercial vessels,” said Rothwell. “That is a reflection of Paddy’s drive, commitment and ability to engender similar characteristics from his employees. Those skills and personal qualities made him an ideal choice to take over from David at the end of the year. Paddy already possesses a good working relationship with Austal USA President Craig Perciavalle and I have no doubt that will continue. I would also like to thank David for his contribution to Austal over almost five years as CEO, and before that as a Non-Executive Director, and wish him all the best for the future.”

Singleton will have completed nine years as a Director including five years as CEO when he completes his term with Austal at the end of this calendar year. He will continue to work closely with Gregg for the next six months to ensure an efficient handover.

Singleton said the time was right to step aside and look for new opportunities. “Austal is an incredible company producing excellent defence and commercial vessels and support services, delivering strong returns for shareholders. After an extended period with the company the time is now right to hand over to Paddy and explore new challenges.”

Gregg said: “Working as COO at Austal has provided me with an in-depth understanding of the opportunities and challenges that Austal faces. Working with Craig Perciavalle, CFO Greg Jason and the rest of Austal’s executive team, I will be focussed on ensuring Austal continues to drive value for our shareholders.”

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