EBOS Group this morning advised its chief executive officer Patrick Davies will step down after 25 years with the company, to be replaced next year by EBOS chief financial officer John Cullity.
EBOS chairman Mark Waller said succession planning had always been key within the company, with Cullity to take over the Group ceo role effective from 31 Mar 2018.
"We respect Patrick's decision to step back from his current role and we appreciate his flexibility around timing and in ensuring that EBOS' progress continues unabated," Walller said, adding that Davies would continue in a contract role to assist with "emerging opportunities".
Cullity's ceo contract includes a $1.13m annual base salary plus incentives worth up to $750,000.
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