According to The Australian Financial Review, Transurban’s biggest dealmaker, Scott Charlton, will step down at the end of the year after a “collective decision” by the toll road group’s board and the chief executive, who describes running the $30 billion company as the highlight of his infrastructure career.
“The last thing I want to do is be one of those people who stays too long,” the 58-year-old told The Australian Financial Review after investors were informed of his departure – slated for December – along with record first-half earnings from the company’s toll roads. “Eleven years is a long time. I want to do something else.”
Transurban’s board met on Monday to discuss Mr Charlton’s exit from the company. The 12-month notice will give Mr Charlton time to potentially bid for another toll road, Melbourne’s EastLink, and tackle the remaining risks on Melbourne’s West Gate Tunnel project, where costs blew out by $2 billion.
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