Manufacturing News

CFO leaves Austal

Richard Simons, chief financial officer at shipbuilder Austal, has quit the company.

Simons had been in the role two-and-a-half years, and his role had been diminished in the company’s restructure, coming after the company posted a first-half operating loss of $6.3 million earlier this year.

"The scope of the role is somewhat less than what Richard had been brought in the company for," CEO Andrew Bellamy told The West Australian.

“A lot of the activities that would have previously been in the corporate finance function are now being done inside of the business units. We've seen some benefit from that in a better financial result in the second-half of last (financial) year.

“Some of that has come because we streamlined our processes and reduced costs in some areas.”

Michael Atkinson has been appointed interim CFO.

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