Sean Flanagan will retire as CEO with effect from March 1, 2024.
Photo by: Creamer Media
The locus of JSE-listed construction group Aveng is set to shift to Australia following the appointment of Scott Cummins, who currently leads McConnell Dowell, to succeed Sean Flanagan as CEO, as well as the impending relocation of CFO Adrian Macartney to Melbourne.
Flanagan, who was a nonexecutive director when appointed CEO in 2019, will retire as CEO with effect from March 1, 2024, and resume the role of nonexecutive board member.
“In line with our longer-term strategy to move the epicentre of the group to Australia and to support Scott, Adrian will relocate from Johannesburg, South Africa and be based in our Melbourne, Australia office from January 2024,” Aveng said in a statement.
However, Aveng says it is not moving headquarters to Melbourne and that its corporate office will continue to reside in Johannesburg.
"We simply have executives primarily located where the bulk of the business is located."
Macartney said his relocation to Australia had been planned for some time and was consistent with the group’s longer-term strategy to seek an international listing “in a market that best recognises the value of our assets”.
Flanagan oversaw a major restructuring of the group, including the disposal of various businesses, such as Grinaker-LTA, which resulted in Aveng retaining only McConnell Dowell and Moolmans as core business.
Cummins, who has 38 years industry experience, has been McConnell Dowell CE and a member of the Aveng executive committee since 2015.
He is a civil engineer, with a B.Eng, 1st class honours degree from Monash University in Melbourne, Australia and holds an MBA from Strathclyde University in Glasgow, Scotland.
Cummins has also previously served as the vice president of the Australian Constructors Association.