Toll executive Chatfield quits key role

One of Paul Little's chief lieutenants at Toll Holdings, Neil Chatfield, has quit

One of Paul Little's chief lieutenants at Toll Holdings, Neil Chatfield, has quit.

Chatfield has stepped down as executive director and chief financial officer of the logistics group, but says he will remain in an executive capacity until next March to ensure a smooth transition.

He cites the desire to pursue "private interests" as the reason for the decision, after working in the role since 1998.

Mal Grimmond, formerly the finance head at Pacific National and recently appointed Director of Business Solutions and Chief Information Officer at Toll, will step in as Acting Chief Financial Officer

Prior to joining Toll, Chatfield worked for the Australian Coal Industry as chief financial officer, with the Cyprus Australia Coal Group and the American Metals and Coal International Group. He has also held various senior roles within TNT-listed associated company Mcllwraith McEacharn during the 1980s and 90s.

Chatfield says it has been an "honour" to help drive the company's growth.

"Toll has delivered superior shareholder returns over a sustained period, and is excellently positioned to continue this trend over the long term," he says in a statement.

Little says Chatfield has made an "outstanding contribution" to Toll.

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