Wal King was out of control: Rowe

UGL chair blames Leighton board for allowing execs to lose control.

Contractor UGL's chairman Trevor Rowe has accused the board of Leighton Holdings of allowing Leighton's former chief executive, Wal King, to get “totally out of control”, according to The Australian Financial Review.

Mr Rowe accused the board of also presiding over a culture of financial excess and bullying tied to other former company executives.

The head of UGL's engineering business, Russell Waugh, resigned last month amid allegations Mr Waugh was ware of kickback payments at Leighton while he was an executive there.

“If he knew there was corruption in a contract, to me, he shouldn't have signed it,” Mr Rowe told the AFR.

“He should have told Wal to get lost.”

Mr Waugh has denied any knowledge of corruption during his time at Leighton. Mr King has similarly denied any connections with bribery, the AFR added.

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