AWE announced that its Managing Director, Bruce Wood, has advised he has decided to retire on or about his 60th birthday and consequently has given twelve months notice under his employment contract.
The Board has launched a global executive search for his replacement. The board and Bruce have decided that he will continue in his current role for as long as is appropriate for a smooth and effective transition to the new Managing Director.
AWE further advises that the Board is continuing a process of planned succession and renewal and expects to announce details within the next month.
Mr. Wood said, "After more than 35 years in the industry, I have now come to the end of my working life. It is with mixed feelings that I have taken this decision. I'll miss working with a great team at AWE but it is now time to hand over. I wish the company the very best for the future."
AWE Chairman, Bruce McKay said, "The Board thanks Bruce Wood for his significant contribution in his three years as Managing Director during which time the company has matured its producing operations and expanded its geographic focus. We wish him well in his retirement. We look forward to a smooth transition to a new leader."
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