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UGL appoints new engineering CEO

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UGL has announced the appointment of Russell Waugh as the head of its engineering business.

It comes after the company announced its intention to split the business in two, demerging to create an engineering focused arm and a property services business.

According to the company "the decision to pursue a demerger follows the completion of the corporate structure review announced by UGL on 26 March".

The review included an evaluation on a number of different options for the company, including M&A, and the demerger.

The new engineering CEO, Waugh, previously spent 17 years with Clough Engineering and the Leighton Group.

Richard Leupen, UGL's overall managing director, said "we are very pleased to confirm Russell's appointment as CEO of the Engineering business".

"Russell's focus on operational discipline, rigorous execution and business development will ensure the Engineering business is strengthened and positioned as a market leader as the investment cycle improves, benefitting from both near as well as longer term opportunities, particularly in the oil and gas, rail, and broader infrastructure sectors.

"We see a longer term opportunity for UGL to build a strong presence in India and Asia by utilising the skills and capabilities we have in Australia.Positioning UGL to benefit from the ongoing growth in Asia is a key strategic initiative together with our traditional Australian markets," Leupen said.

"As we commence the demerger preparation phase, Russell will lead the engineering side of the business,building out the operational structure and driving the strategy to deliver business growth and stability. Under Russell's leaders, Engineering will emerge on separation as a market leader with revenue in excess of $2.3 billion and 8000 people operating across six countries."

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