Lewsey to leave Emeco as Testrow steps up


Senior management changes also see Hawkins join the board

Lewsey to leave Emeco as Testrow steps up
Ken Lewsey is leaving Emeco.

 

International mining equipment rentals firm Emeco is loading the managing director and CEO roles on COO Ian Testrow as the incumbent, Ken Lewsey, leaves.

At the same time, CFO Greg Hawkins is to join the Emeco board and will become executive director, finance.

News of Lewsey’s departure in later in the year comes two months after Emeco’s $53 million plan to create an equipment rental powerhouse through the acquisition of truck rentals firm Rentco hit the buffers and talks ended on a merger with rival Orionstone.

The company says Testrow will now focus on all customer-facing parts of the Emeco business while Hawkins will continue to cover the equity and debt market activities in addition to the other aspects of his finance role.

"On behalf of the board, I would like to acknowledge the significant contribution that Ken Lewsey has made during his time as CEO," Emeco chairman Alec Brennan says.

"The board asked Ken to refocus Emeco on its customers, review its strategy and, given the current circumstance in the mining services industry, significantly reduce costs.

"He has made a major contribution in all of these areas.

"In his work leading the Project Fit cost reduction initiative it became clear to Ken that further management downsizing was required and, accordingly, he has decided that it is now time for him to step down."

"Ken has agreed to be available to assist the board in transition arrangements over the next few months."

Lewsey leaves Emeco in reasonable shape, with the company reporting a 21 per cent rise in fourth quarter revenue to $65.3 million and having unveiled the Emeco Operating System (EOS), its fleet management and applications technology platform.

 

 

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