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PERTH, July 1 Asia Pulse - Clough Ltd's (ASX:CLO) new boss David Singleton said he would need time to turn around the poorly performing engineering and construction company.
The 43-year-old former head of strategy and mergers and acquisitions at London-based BAE Systems has 20 years of international business experience in senior executive roles - mostly in Europe and the United States.
Mr Singleton's appointment as chief executive officer and managing director comes after Clough posted a $A4.9 million ($US3.29 million) net loss for the first half of 2002/03 and cast doubt on whether it would return to profitability for the year, despite an expected second half improvement.
The Perth company's chairman Ross Kelly said today Mr Singleton's core strengths were in the areas of leadership, strategy, finance and mergers and acquisitions.
"The board believed David has the right skills to ...