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CIMIC Group Limited Annual Report 2016 |
Directors’ Report
Directors’ Report
The Directors present their report for the 2016 Financial Year in respect of the Company and certain entities it controlled. This Directors’
Report has been prepared in accordance with the requirements of Division 1 of Part 2M.3 of the Corporations Act and is dated
8 February 2017.
DIRECTORS’ RESUMÉS
The Directors as at the date of this Directors’ Report are:
MARCELINO FERNÁNDEZ VERDES (61)
Executive Chairman
Civ Eng
Appointed Executive Chairman in June 2014 having been a Non-executive Director from October 2012 until March 2014.
Mr Fernández Verdes was CEO and Managing Director of the Company from March 2014 until October 2016.
Mr Fernández Verdes has been a member of the Executive Board of HOCHTIEF AG in Essen since April 2012. In November 2012, he was
appointed Chairman of the Executive Board of HOCHTIEF AG and assumed responsibility for the HOCHTIEF Asia Pacific division.
Mr Fernández Verdes studied construction engineering at the University of Barcelona and has held a variety of positions in the
construction industry since 1984. In 1997, he became General Manager of ACS Proyectos, Obras y Construcciones, and then took over as
Chairman and CEO in 2000. Following the merger between Grupo ACS and Grupo Dragados in 2003, Mr Fernández Verdes took office as
Chairman and CEO of Dragados S.A. He served as Chairman and CEO of Construction, Environment and Concessions at ACS Actividades de
Construcción y Servicios S.A. from 2006. Mr Fernández Verdes was appointed to the Executive Committee of the ACS Group in 2000, and
to the Board of Directors of ACS Servicios y Concesiones, S.L. (Chairman and CEO) in 2006.
ADOLFO VALDERAS (46)
Managing Director and Chief Executive Officer
Civ Eng, MBA
Appointed CEO and Managing Director in October 2016.
Mr Valderas was previously Deputy Chief Executive Officer and Chief Operating Officer of the Company. Mr Valderas is a civil engineer
and has significant experience in managing complex, multinational operations and projects across Australia, Europe, the United States,
Canada, South America and China. Mr Valderas has direct experience in delivering projects in high speed rail, road and bridges, water
treatment and construction. Mr Valderas was formerly the Chairman and CEO of Iridium Concesiones de Infraestructuras (Iridium), a role
he held from 2010 to 2013. Iridium is an ACS Group company responsible for developing and managing all types of government
concessions involving transport and public works infrastructure. Between 2000 and 2010, Mr Valderas held roles with Dragados, most
recently as Deputy International Manager. Prior to 2000, he held a variety of positions within the construction industry.
RUSSELL CHENU (67)
Independent Non-executive Director
BCom, MBA, CPA
Appointed Independent Non-executive Director in June 2014. Mr Chenu has a Bachelor of Commerce from the University of Melbourne
and an MBA from the Macquarie Graduate School of Management. Mr Chenu is an experienced corporate and finance executive who has
held senior finance and management positions with a number of ASX-listed companies. In a number of these senior roles, he was
engaged in significant strategic business planning and business change, including several turnarounds, new market expansions and
management leadership initiatives.
Mr Chenu was appointed as interim CFO of James Hardie Industries plc in October 2004 and was appointed as CFO in February 2005
before retiring in November 2013. As CFO, he was responsible for accounting, treasury, taxation, corporate finance, information
technology and systems, and procurement.
Mr Chenu is a Director of the following additional ASX-listed entities: Metro Performance Glass Limited (since July 2014), James Hardie
Industries plc (since August 2014) and Reliance Worldwide Corporation Limited (since April 2016).
JOSÉ-LUIS DEL VALLE PÉREZ (66)
Non-executive Director
LLB
Appointed Non-executive Director in March 2014. Mr del Valle Pérez completed a degree in Law from the University Complutense of
Madrid in 1971 and, since 1974, has been Abogado del Estado de España (State Attorney of Spain). He has been a Member of the Bar
Association of Madrid since 1976. As Spanish State Attorney he performed his duties in the Delegations of the Ministry of Finance and the
Courts of Justice of Burgos and of Toledo, and in the Legal Departments of the Ministry of Health and of the Ministry of Labour and Social
Security. Mr del Valle Pérez was previously a Director of the legal department of the political party UCD (from 1977 to 1981) and a
Member of the Parliament (Congreso de los Diputados) of Spain (from 1979 to 1982). He was also Deputy Minister for Territorial
Administration from 1981 to 1982. Since 1983 Mr del Valle Pérez has been a Director of and/or legal advisor to many Spanish companies,
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