Adbri loses $1b in value in six months

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The former chief commercial officer at OZ Minerals is coming in as a short-term replacement for chief executive Nick Miller, with the board losing patience.

because of the unusual situation in the boardroom, where Mr Barro is both a major shareholder and also a competitor to Adbri in the cement industry.

Adbri’s lead independent director and deputy chairwoman, Vanessa Guthrie, said Mr Irwin had “significant commercial, strategic and operational experience”. The margin squeeze has come even though there is strong demand for the group’s products in house building, infrastructure, mining and engineering projects.

 

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