UGL chairman Trevor Rowe has announced he will retire after the next AGM in October, as board member is Kate Spargo elected as the new chair of the company.
Rowe today announced he will not stand for re-election at UGL's AGM on 30 October, and will retire at the conclusion of the meeting.
In the wake of this UGL is appointing Kathryn (Kate) Spargo to fill his role once Rowe steps down.
According to Rowe, after eleven years as chairman of UGL it was an appropriate time for him to retire.
"During my period as chairman of the board, UGL has grown from an Australian based engineering company with revenues of less than $1 billion to a multi-national diversified engineering and property company with revenues in excess of $4 billion," Rowe said.
"Kate Spargo has been a valuable addition to the UGL board and will provide strong leadership, stability, and direction to UGL management and the board as it embarks in the next phase of its journey."
Following this announcement, UGL director Raymond Ch'ien has also announced his intention to resign from the board.