WATPAC has appointed Richard McGruther as the new chair to replace Chris Freeman, who has elected to stand down from the position following two and a half years.
During his tenure as chair, Freeman oversaw the strategic review and consolidation of the group’s businesses that paved the way for Watpac’s return to profitability in FY14.
“In what has been a challenging and uncertain market for the last few years, the board has successfully undertaken a business reform to not only deliver results for our shareholders but a strong foundation from which sustainable value can be added,” Freeman said.
“It has been an important chapter for Watpac and I am proud to have been able to provide guidance and support during this period,” he added.
McGruther was previously deputy chair. As the newly appointed chair, he said he would be focused on the continued delivery of profitable growth and the strengthening of Watpac’s brand.
Australian Property Journal
