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Downer NZ boss departs to Fulton Hogan

NZ Newswire logoNZ Newswire 15/01/2017 Paul McBeth

Downer EDI's New Zealand boss Cos Broyn will leave the Australian infrastructure and mining firm to take over the reins at privately held construction firm Fulton Hogan.

Mr Broyn will immediately give up management duties at Downer and face a nine-month restraint period before he joins Fulton Hogan as group chief executive, Downer says.

Steve Killeen, who is Downer's group executive manager of strategy and development, will act as chief executive.

Downer's revenue from the New Zealand and Pacific Island businesses edged up 2.6 per cent to $1.3 billion in the year ended June 30, 2016, accounting for 19 per cent of the group's sales.

Fulton Hogan head Nick Miller is scheduled to leave the civil construction company at the end of March, while the New Zealand firm's chairman Mike Holloway departed at the end of 2016 due to health issues.

Last September, Fulton Hogan reported an 11 per cent increase in annual profit to $168.7 million for the June 2016 year.

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