Wal King re-elected to Ausdrill board

Former Leighton boss re-elected to Ausdrill board, with 22% of shareholders opposing the motion.

Ex-Leighton boss Wal King was re-elected to the board of mining services company Ausdrill on Thursday with 22% of shareholders opposing the move, The Australian reports.

King has been implicated in allegations of corrupt practices at his former position with Leighton Holdings (LEI). He has denied the allegations and is suing Fairfax Media for defamation.

Chairman Terence O'Connor said the board recommended King be re-elected given he hasn't been approached by the Australian Federal Police, nor the Australian Securities Investment Commission, according to the newspaper.

"For these reasons the board saw no reason to change its recommendation for the re-election of Wal King as a director merely because of unsubstantiated reports in the press," he said.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles