The factors behind Cardno's leadership shake-up

The Cardno board is looking for a new person at the helm to grow the business the old-fashioned way.

John Marlay and his comrades on the Cardno board have clearly decided the time for growth by acquisition has gone and they need a better operations person at the helm to try to lift earnings.

Marlay was unwilling to go into details on just why Michael Renshaw was shown the door yesterday but no one is hiding the fact the decision was prompted by the board, not the outgoing chief.

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