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DOW - Appointment of Chief Financial Officer

Tuesday 28th March 2023

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Downer EDI Limited (Downer) today announced that Malcolm Ashcroft has been appointed as Chief Financial Officer, commencing by July 2023.


Mr Ashcroft is an accomplished leader with significant financial and senior executive experience in publicly listed entities covering the infrastructure services, construction, health, and education sectors.


Mr Ashcroft is currently Chief Operating Officer at G8 Education Limited. Prior to that, he has held senior executive roles including as Chief Financial Officer at Healius Limited, Deputy Chief Financial Officer and Group Executive Transformation at CIMIC Group Limited, Acting Head of Finance and Risk at Sydney Metro and Senior Audit Partner at KPMG.


Downer Group Chief Executive Officer, Peter Tompkins, said: “Malcolm is a highly disciplined financial leader with a proven track record in our industry, as well as in transformation roles. His focus on finance and risk management, capital management discipline and financial controls are all crucial to Downer’s future success.


“This appointment follows a comprehensive external candidate search and selection process, and we are delighted to have secured such a high calibre, accomplished senior executive.”


Mr Ashcroft said he was excited by the opportunity to join Downer.


“Downer is an iconic trans-Tasman business with a rich history and a bright future,” Mr Ashcroft said. “I believe Downer has significant opportunities, and I am looking forward to contributing to the business’ focus on realising the true value of the company for shareholders.”


Mr Ashcroft is a Chartered Accountant and holds a Bachelor of Commerce from Newcastle University. He will take over from Michael Ferguson, who has held the position of CFO since October 2016.


“I would like to again thank Michael for his significant contribution to Downer over the past nine years,” Mr Tompkins said. “Downer has been fortunate to have a CFO with such strong strategic, commercial and financial acumen, and I wish Michael the very best for the future.”


Authorised for release by Downer’s Board of Directors.


For further information please contact:

Media: Mitchell Dale, Group General Manager Corporate Affairs +61 448 362 198

Investors: Adam Halmarick, Group Head of Investor Relations +61 413 437 487

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