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NEW CEO OF AUSTRALIA'S CLOUGH NEEDS TIME TO TURN COMPANY AROUND.

AsiaPulse News

| July 01, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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