CSR Limited (CSR) announced today that Rob Sindel has indicated his intention to step down as CSR’s Managing Director and CEO within the coming 12 months.
CSR Chairman John Gillam said “Rob has been an outstanding CEO. Over the past eight years, he has guided the Company through a number of complex and substantial transactions, as well as a difficult period in the building cycle. Under his leadership the Company’s financial performance has improved dramatically, and he has set CSR up for success by building a more resilient business through diversification of building products’ earnings and the property portfolio. Rob has improved employee and customer engagement across the organisation, as well as operational efficiency. He is extremely well regarded throughout the organisation as well as the industry.”
“Rob will be leaving the Company in a healthy position. Not only is the balance sheet strong, but we have a highly capable and well regarded senior executive team, with significant sector experience. The Company is well placed to move into the next chapter of its growth.”
“The Board has commenced a search to appoint a successor. This will include considering both internal and external candidates. We expect to provide a further update to the market on this process at the time of the full year results in May 2019.”
Mr Sindel said “I believe that next year will be the right time to hand over the leadership of the Company. I am reassured by the resilience within CSR’s core operations and there are exciting growth businesses within the expanded business products portfolio and the new digital platforms. The extensive property assets will drive significant value for shareholders over many years and CSR’s strong balance sheet will underpin future success.”
CSR Limited Investor Relations
Tel: +61 2 9235 8053