Australian aluminium shipbuilder Austal has announced that its CEO Bob Browning, has tendered his resignation. Mr Browning's resignation will be effective from 15 November 2010.
The company says he will continue to serve as a member of the Board of Austal USA, which will quell suggestions that his departure may affect US Navy contracts, especially as defence budget cuts are expected.
In response to claims in the media the he will be pursuing another role elsewhere, a company spokesperson said that Bob Browning "has no immediate career plans at this time and is focused on seeing out his current role with Austal".
Austal's Chairman, Mr John Rothwell, will assume the role of Executive Chairman on an interim basis, "while the company evaluates its future requirements".
Mr Browning joined the Austal Board in 2003 as a non-executive director and in 2007 was appointed to the role of Chief Executive Officer of Austal USA.
In this capacity, Mr Browning established a strong USA based team focused on the needs of the US Navy and developing the strategically important JHSV and LCS opportunities. In 2008, Mr Browning was appointed to the position of Managing Director and Chief Executive Officer of Austal.
In his role as Managing Director and Chief Executive Officer, Mr Browning led the bid strategy for the current LCS proposal and worked closely with Federal, State and City authorities in the United States of America to promote Austal's interests.
Disclosure: Members of the Baird family or companies in the Baird Publications group own shares in Austal.
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