The contractor says Michael Ferguson will leave the company, two days after its stock plummeted 24 per cent and investors demanded meetings with the board.
Mr Mawhinney met with Downer EDI’s new chairman, Mark Chellew, this week to outline his concerns.that Downer’s credibility was “vapour” and that it was “dead capital for now.”
Mr Tompkins plans to save $100 million in fiscal 2025 by combining Downer’s Australia and New Zealand businesses,Advertisement It has not released the names of lawyers and forensic accountants it hired to do an investigation into the accounting problems. While a few people directly involved with the problem contract have left Downer, the company has not named them.
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