Downer has announced that Malcolm Ashcroft has been appointed as Chief Financial Officer, commencing by July 2023.
Ashcroft is a leader with financial and senior executive experience in the infrastructure services, construction, health, and education sectors.
Prior to becoming Chief Operating Officer (CEO) at G8 Education Limited (his current role), Ashcroft has held senior executive roles including as Chief Financial Officer at Healius Limited, Deputy Chief Financial Officer and Group Executive Transformation at CIMIC Group Limited, Acting Head of Finance and Risk at Sydney Metro and Senior Audit Partner at KPMG. He will take over from Michael Ferguson, who has held the position of CFO since October 2016.
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Downer Group CEO Peter Tompkins said that Ashcroft has a strong proven track record in the infrastructure industry.
“Malcolm is a highly disciplined financial leader. His focus on finance and risk management, capital management discipline and financial controls are all crucial to Downer’s future success,” he said.
“This appointment follows a comprehensive external candidate search and selection process, and we are delighted to have secured such a high calibre, accomplished senior executive.”
Ashcroft said he is excited by the opportunity to join Downer.
“Downer is an iconic trans-Tasman business with a rich history and a bright future,” he said.
“I believe Downer has significant opportunities, and I am looking forward to contributing to the business’ focus on realising the true value of the company for shareholders.”
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