Boral’s chief executive steps down, Australia

The Board of Boral Limited today announced that the Chief Executive, Mr Mark Selway, will step down from his role effective immediately. He will remain in employment with the Company until 31 July 2012 to assist with transition arrangements.

Ross Batstone, currently Divisional Managing? Director Boral Building Products, has been appointed Acting Chief Executive Officer while a global search for a successor to Mr Selway is undertaken.

Dr Bob Every, Boral’s Chairman, said: “Over the last two years Boral has undergone significant restructuring including closure of non-performing businesses, a significant focus on lean manufacturing processes, re-emphasis on sales and marketing and investment in innovation and growth.

“While operational improvements throughout Mark’s tenure have been excellent, the Board has decided that the stewardship of the Company going forward requires a Chief Executive with a leadership style suited to harmonising the changes that have occurred over the last two years throughout the company.

“The Board has confidence that Ross has the necessary skills and experience to lead Boral until a successor to Mark is chosen. I look forward to working actively with Ross and the rest of the management team during this transition phase to ensure that the Company consolidates the benefits of the restructuring that has taken place over the last two years,” Bob said.