CIMIC Group appoints Adolfo Valderas as new CEO

It also designated a new company secretary.

CIMIC Group announced the promotion of Adolfo Valderas to Chief Executive Officer, from Deputy Chief Executive Officer, effective immediately.

Marcelino Fernández Verdes, currently CIMIC Executive Chairman and Chief Executive Officer, will continue as Executive Chairman.

Mr Valderas was previously CIMIC Group Deputy Chief Executive Officer and Chief Operating Officer.

Prior to that he was Chairman and Chief Executive Officer of Iridium Concesiones de Infraestructuras. Iridium, an ACS Group company, is the world-leading developer and manager of government concessions involving transport and public works infrastructure.

Meanwhile, Nigel Lowry has been appointed as an additional CIMIC Group Company Secretary with immediate effect.

Louise Griffiths remains as CIMIC Group Company Secretary and the person responsible for communications with the Australian Securities Exchange.