Boardroom shake-up at IFS
A hostile battle for control of IFS Construction Services has resulted in a board shake-up that has seen Perth business identities Justin Walawski and Graham Griffiths team up with Birchman Group CFO Greg LeGuier to take control of the Subiaco-based formwork and scaffolding company. Executive chairman Billy Ong and all previous IFS directors have been ousted from the board. Mr Ong’s Hong Kong-based company, Millenium Scaffolding Systems (Asia), had earlier launched a takeover bid for IFS that was declared unacceptable by the Takeovers Panel on the basis it was not taking place in an “efficient, competitive and informed” market. The proposed bid was withdrawn this week. The new board, chaired by Mr Walawski, has appointed CFO Wil Cuperus as the company’s chief executive officer and former operations director Doug Weir as chief operations manager. IFS announced last week that two of its Western Australian subsidiaries, Hire Access and Specialised Scaffolding Services, had gone into voluntary administration.
Wallace takes chair at Neptune
Peter Wallace has been appointed as chairman of Neptune Marine Services from next month, when incumbent Ross Kennan retires from the board at the company’s annual general meeting. Mr Wallace joined the board of the marine engineering company as a non-executive director last year and has held executive management positions with Bell Potter Securities, Westpac Banking Corporation, Challenge Bank and National Australia Bank. He is also a director of HBF Health Funds Incorporated.
Hamilton heads Macmahon construction
Engineering contractor Macmahon Holdings has appointed Mark Hamilton to the newly created position of chief operating officer construction. Reporting directly to CEO Nick Bowen, the position will mirror the structure in place for Macmahon’s mining business, which is overseen by chief operating officer mining Ross Carroll. Mr Hamilton joined Macmahon in 2005 as Queensland state manager and more recently held the position of executive general manager construction east. He has previously worked for Walter Construction, Leighton Contractors and Shell Gabon.
