Fulton Hogan chairman Mike Holloway will leave the board of the civil construction firm for health reasons at the end of the year, a changing of the guard that may see director David Faulkner named as his replacement at the privately held company.
In a letter to shareholders last month, Holloway said he plans to end a nine-year relationship with the company at the end of 2016, and signalled recently elected Faulkner, a former managing director of the firm, will take over the chair.
" ... after four years as Fulton Hogan's chairman, and a separate five-year term as a director, I have made the decision to conclude my formal association with the company as a director and chairman, bringing to a close my tenure at the end of the calendar year," Holloway wrote on October 11.
"I have made the decision with great regret; however, the impact of sustained air travel on my health has made the decision unavoidable."
The change in the boardroom comes ahead of the March 2017 departure of managing director Nick Miller, who has led the firm since 2010 and is an 18-year veteran.
