Kruger gets the nod to replace Paul Little at Toll

Toll CFO Brian Kruger will take over from outgoing Managing Director Paul Little

Kruger gets the nod to replace Paul Little at Toll
Kruger gets the nod to replace Little at Toll
August 4, 2011

Toll’s Chief Financial Officer, Brian Kruger, will take over the reins of the transport and logistics giant when Managing Director Paul Little steps down next year.

Toll today named Kruger as Little’s replacement at the top following an extensive global search for a new managing director. Little last year announced he would leave his post on January 1, 2012.

Kruger, whose career spans high-level appointments at BHP and BlueScope Steel here and overseas, will begin a four-month stint as managing director-elect on September 1 before stepping into the managing director role on January 1 next year.

Toll Chairman Ray Horsburgh says Kruger, who joined the ranks of Toll in July 2009, is well regarded for his management style and has demonstrated his capability in operational and financial roles.

"He has outstanding business pedigree and will be a highly capable successor to Paul," Horsburgh says.

"The two years Brian has been at Toll have given him the best possible starting point for his MD role. He is the candidate with external experience and internal understanding."

Kruger’s wage will jump from $930,000 to $1.7 million when he takes over as managing director. He also stands to earn up to $1.4 million in a combination of cash and equity this financial year if he meets short-term performance targets.

Toll says Kruger will also be eligible to receive a long-term incentive figure of $1.4 million in equity this financial year.

Little, who will return to Toll next year as a non-executive director, says he is "thrilled" with Kruger’s appointment.

"Brian is a superb executive, a particularly effective leader of people and the right person to head up the company at this time," he says.

Kruger labelled his promotion "a real honour" and says he plans to build on Little’s more than two decades at the helm.

"For me, having had two years now to see the company from the inside will be invaluable in leading the team through our next series of challenges and opportunities," the 49-year-old says.

Toll will now begin the search for a new CFO. The head of finance at Toll’s Global Resources Division, Grant Devonport, will take on the job temporarily from September 1.

In announcing Kruger’s promotion, Horsburgh also paid tribute to Little’s time at Toll since the 1986 management buyout.

"During his time as MD, Paul has grown Toll from a small domestic trucking business with turnover of $16 million and 95 employees, to a global company with annual revenue of around $8 billion," he says.

The Melbourne-based Kruger joined Toll after more than 25 years working in Australia and the US for BHP and BlueScope Steel.

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