Board Members at Clough Wave Goodbye

- Board Members at Clough Wave Goodbye

Friday, July 01, 2011
Clough Ltd.

Clough announced that Non-Executive Directors Brian Bruce and Roger Rees have stepped down from Clough's Board, effective immediately. Mr. Bruce, who has been a Clough Board member since November 2004, retired as CEO of Murray & Roberts on 30 June 2011. Mr. Rees, who joined the Clough Board for the first time in November 2005, retired as Financial Director of Murray & Roberts at the same time.

Henry Laas, who was appointed as CEO designate and successor of Brian Bruce at Murray & Roberts on 1 April 2011, will replace Brian Bruce as Non-Executive Director to the Clough Board. Murray & Roberts' newly appointed Financial Director, Cobus Bester, will replace Roger Rees.

"I would like to thank Brian Bruce and Roger Rees for the enormous contribution they have made to Clough," said Clough's Chairman Keith Spence.

"Brian is Clough's longest serving Board member, and during his seven year tenure his strategic thinking, leadership and international expertise has helped successfully transform Clough into the world class engineering and construction business we see today.

"We have also benefited greatly from Roger's extensive international corporate finance experience. His input into due diligence studies, acquisitions and disposal of companies at Clough over his six year tenure has been invaluable.

"I wish Brian and Roger all the very best for the future and look forward to working with Henry Laas and Cobus Bester to achieve the next phase of growth at Clough."

Mr. Laas holds a Bachelor of Engineering (Mining) degree from the University of Pretoria and an MBA from the University of the Witwatersrand. He has extensive experience in the mineral resources and mining contracting sectors. As Managing Director of Murray & Roberts Cementation and its predecessor RUC Mining Contractors over 10 years since March 2001, he played an instrumental role in the expansion of the Cementation Group global footprint.

Mr. Bester is a Chartered Accountant with over 22 years experience in the construction and engineering industry. He was the group Financial Director for Basil Read and Concor Limited for 3 and 6 years respectively and was appointed Managing Director of Concor in 2005. Concor was acquired by Murray & Roberts in 2006 and subsequently delisted from the JSE Limited. Mr. Bester has been a Director of Murray & Roberts Limited since 2007.

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