Downer EDI Ltd has announced the appointment of Malcolm Ashcroft as chief financial officer, commencing by July 2023.
Ashcroft is an accomplished leader with significant financial and senior executive experience in publicly listed entities covering the infrastructure services, construction, health, and education sectors.
He is currently chief operating officer at G8 Education Ltd. Prior to that, he has held senior executive roles including as chief financial officer at Healius Ltd, deputy chief financial officer and group executive transformation at CIMIC Group Ltd, acting head of finance and risk at Sydney Metro, and senior audit partner at KPMG.
Downer Group chief executive, Peter Tompkins, said: “Malcolm is a highly disciplined financial leader with a proven track record in our industry, as well as in transformation roles. His focus on finance and risk management, capital management discipline, and financial controls are all crucial to Downer’s future success.
“This appointment follows a comprehensive external candidate search and selection process, and we are delighted to have secured such a high-calibre, accomplished senior executive.”
Ashcroft said: “Downer is an iconic trans-Tasman business with a rich history and a bright future ... I am looking forward to contributing to the business’s focus on realising the true value of the company for shareholders.”
Ashcroft is a Chartered Accountant and holds a Bachelor of Commerce from Newcastle University. He will take over from Michael Ferguson, who has held the position of CFO since October 2016.
“I would like to again thank Michael for his significant contribution to Downer over the past nine years … and I wish [him] the very best for the future,” Tompkins said.
Authorised for release by Downer’s board of directors.
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