Clough to Bid Farewell to Resigning CFO at End of September

Engineering and construction company Clough Limited announced that Andrew Walsh has resigned his role of Chief Financial Officer and Executive Director and will terminate his employment on September 30, 2009.

Chief Executive Officer John Smith commented, "Andrew has been with the Company for six years having joined as the business was entering a very difficult period. He has shown exceptional commitment and diligence in helping to steer the Company through that period. For the second successive year we have delivered and excellent financial result which puts us in a net cash position with the strongest balance sheet in the history of the Company. Andrew should take credit in the role he has played and he will leave us in good shape poised for further growth. I wish him ever success with his next venture."

With immediate effect, and for an interim period, Richard Simons and Neil Siford will split the responsibilities with Richard responsible for finance, treasury and investor relations and Neil responsible for management and statutory accounting.

The Company has commenced a search for a replacement and in that process will consider both internal and external candidates.