Boral appoints new CEO/MD

Australia-based Boral Ltd has appointed Zlatko Todorcevski as its new CEO and managing director, effective 1 July 2020.

He succeeds Mike Kane, who will retire from Boral in September 2020.

Mr Todorcevski has 30 years of experience in Australia and internationally in steel building products, oil and gas, and logistics, working in finance, business planning and strategy roles, including as chief financial officer of Brambles Ltd from 2012 to 2016 and Oil Search from 2009 to 2012. This followed a 23-year career
at BHP in senior finance and business development roles across BHP’s steel building products and petroleum businesses, culminating in the role of CFO Energy at BHP based in the USA.

Since March 2017 he has been on the Board of construction materials company, Adelaide Brighton Ltd, where he has served in the capacity of chairman and since May 2019 as deputy chairman and lead independent director. He will step down from the Adelaide Brighton Board, effectively immediately. Mr Todorcevski is also on the Board of Coles Group Ltd, where he serves as chairman of the Audit and Risk Committee, and The Star Entertainment Group Ltd, where he is Chair of the Audit Committee. He will complete an orderly transition off those Boards over the coming months.

Boral’s chairman of the board, Kathryn Fagg, said that after an extensive search for a new CEO, Zlatko has proven to be an outstanding candidate. “With exceptional commercial acumen, strategic insight and a focus on return on capital, Zlatko has a strong track record as a senior executive in a number of large industrial and energy companies, with international operations.

“His experience in leading major transformations, including business turnarounds, as well as in capital allocation and strategic portfolio management, are critically important for Boral.

“Zlatko’s mandate as Boral’s CEO is at the outset to set a clear operational plan, including how to manage through the current challenging conditions, and to work with the Board to finalise the review of the operational performance and strategic positioning of the businesses within Boral’s portfolio. He will then deliver a strategy to strengthen the financial performance of the Company and to improve returns for our shareholders.”