Source: http://www.miningweekly.com                     Date: 16 September, 2010

Top Australian contractor Leighton Holdings eased out CEO Wal King after 23 years, promoting another company veteran into the top job on Monday. Leighton, majority owned by German construction group Hochtief, said Mr. David Stewart, currently co-chief operating officer, would take over on January 1, 2011. Leighton Holdings is the parent company of Leighton Asia which is active in Mongolia.

King, 65, is synonymous with Leighton in Australia, having grown the company from a small Melbourne-based construction group with a profit of AUD7 million in 1987 into the world's largest contract miner, with a net profit of AUD612 million in 2010. He will stay on as a consultant.